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STICKY:
Before Posting
(closed)
(Preview)
http://www.book-keepers.org.uk/t62264820/site-ethics/
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Shamus
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0
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7312
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NIC Allowance
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Hi I was wondering if I could ask anyone's advice please? I know that the allowance cannot be claimed if youre a company with only one employee paid above the Class 1 National Insurance secondary threshold, which is £175 p/w or £758 p/m. Does it matter if, two non director employees are paid the same...
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Blonde Accountant
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2
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315
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Director as a self emplyed
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Hello all, A newbie here. Trainee bookkeeper. I think this question has been asked. I am trying to register a director for self employment. One of the tick boxes does ask if you are a director. I am going to have another go at form tomorrow. My question is can directors be registered as self employed or w...
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brightsky18
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0
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214
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Travel Costs Deducted from Workers
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Hi- I'm hoping for some help please. I am about to take on a payroll where the business currently offers transport to various work sites for the workers, and then deducts/recoups the cost of providing transport to work from the workers. It is not compulsory for the workers to use the company transpor...
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Trojan1970
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1
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346
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VAT on charitable donations
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Good Afternoon All, We support a few charities and I am coming to process the in Quickbooks, we are a limited company We sent a cash payment to a charity and I am wondering what I key for VAT, No Vat, Exempt or zero rated? We also purchase toys/ selection boxes / toiletries / clothing to send to a children's...
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torracj
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2
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434
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Employment Allowance for 2024-2025
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Hello, Do you know if we can send the declaration for 2024-25 now or wait for 6th April 2024? Xero payroll allows you to send it now, is HMRC going to reject it?
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Diona
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2
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542
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VAT Receipt - Can I still reclaim
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I am new to bookkeeping and would like some advice I have a VAT receipt that is handwritten and meets all of the usual criteria, however it doesn't include an invoice number. The receipt is for over £250.00 and a till receipt is also attached as proof of payment. Can I still reclaim the VAT?
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Mickey52
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1
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362
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Principles of writing off old creditors
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Hello all, I hope you will be able to help. Is it ok to clear very old creditors balances from the ledger? If the amount are real confirmed balances do we need to keep them on the ledger or we can clear them after 6 months? Thank you!
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Diona
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0
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411
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Pension - Topping Up Employer Contribution
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Hi all, my client would like to offer his employees the option to take a bonus as cash (through payroll) or to use it to top up their pension. Can the employer do this by topping up the employer contribution as a one-off or does it have to go through as an employee additional contribution, thus impacting...
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Eva D Maytree
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3
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1401
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Employee expense reimbursement through payroll
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Hi, please could you offer some advise on a payroll topic. Im fairly new to this, so please bear with me.
We reimburse employees expenses through payroll but how do I process this through the payroll journal or should I post the payroll journal and then a separate journal to record the expenses?
Many...
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G905ALR
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0
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394
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VAT on Purchase & Sales
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Hi All, I've had a complete mental block and I am hoping you can assist. A software licence was purchased from a country outside the UK so there is no VAT on it. We will just say this is for £800.00. The same company who bought the software has sold this on for, say, £900.00 plus VAT so £180.00 in output VAT...
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Lusk
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0
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446
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Wrong VAT code, VAT Reversing entries, Sage 50 Cloud
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Hey guys, Seasonal greeting and best wishes for 2024!! Could you, please, help me? The Company migrated to a new software - Sage 50 Clouds in the mid of 2023. Transactions with the wrong VAT codes (Postponed VAT Code T39, T40, T43 in ) were posted to Sage 50. And as far as I understood they were either all...
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Leila77
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1
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583
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Free AI tool for working out UK VAT treatment when bookkeeping.
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Hi all,Im a startup founder and chartered accountant. I got frustrated when doing my own bookkeeping that I would often second guess myself when working out the VAT treatment for transactionsSo. being a tech startup founder I created a VAT Bot to help me.Its a totally free tool and I only released it t...
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Josh92
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0
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623
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Cash Based - Losses Self Assessment
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Morning Everyone Hope you can help. I have a client which is a partnership and they are cash based. Last year they had a lost, this year a profit. Can I carry the loss forward to use in this years self assessment? (I was under the impression that if you were cash based you could not use the previous years los...
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Wombat
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8
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1140
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Cash Basis - Capital Allowance
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Hi I have a client who is a dog walker/boarder and they are cash based. They bought a van for the business in July 22. Can I use part of the cost of the Van as capital allowance for 22/23 to reduce the tax bill and the rest for 23/24? Thanks
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Wombat
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2
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1083
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Revenue figure when using Flat Rate VAT
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My understanding is the Revenue figure excludes VAT. I have a customer on the VAT Flat Rate Scheme paying 10%. So they invoice a customer showing a cost of £100 net plus 20% VAT giving a total cost to the customer of £120. Under the Flat Rate Scheme the VAT liability is 10% of the £120 = £12. So is the Rev...
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SecondTrader
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8
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1791
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Higher rate taxpayer calcs
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Hi Could anyone cast there eye over this for 22/23 YE? I am (pretty) confident with the Dividends but not the Tax due on Pension income.Gross Income from State Pension10,926.00 Gross Income from Teachers Pension25,114.00 Dividend income32,804.00 Total Income 68,844.00 Personal Allowa...
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tonys
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6
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1459
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Unreconciled Vat return transactions in Sage 50 Account
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Hi All, I hope you can help. I am preparing a Vat return for a client and came across something rather odd. There are quite a large number of historic, unreconciled VAT transactions which should ideally be included with my next VAT submission. The problem is that the first 3 quarters VAT returns in the...
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Hana NB
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5
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2086
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Ebay - VAT on sales
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Hi, I'm a trainee bookkeeper and I also run a business with my husband, so this is all a learning curve for me! We are a VAT-registered company and we have started selling goods online via Ebay and we use Xero accounting software. What I can't get my head around is VAT on Ebay sales. I believe Ebay deduc...
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Songhurstadmin
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4
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1418
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Backdated VAT - First Return
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Bookkeeping for the above in practice? Hi all.....wondering how best to do this. I don't obviously want to amend past months accounts (that have already been reported on) but do obvously want to claim as much VAT as is available to the company in VAT expenses. Not that it matters but it took longer tha...
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Count1314
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2
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1234
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