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Skils swap - any tax implications
(Preview)
Another tax question from me... Someone on a local business networking forum has suggested we look at doing some skills swapping but thought there might be some tax implications. My first thought was that I didn't see how there would be; if I did some bookkeeping in return for someone designing my web...
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RuthA
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14
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5570
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Newly "discovered" old invoices - presume not considered a VAT "error"
(Preview)
A client recently handed me over a hundred un-processed supplier invoices which were raised during the previous VAT period. The total input tax comes to over £2600. It seems to me that the obvious thing to do is simply to add the purchase and VAT figures to the current VAT Return. The VAT Man wouldn'...
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AICB
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5
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2547
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registering for VAT (UNDER THRESHOLD)
(Preview)
hI, My client is a self employed courier driver. a few questions 1. Do you think it would be benificial for him to register for VAT to claim back his VAT on fuel receipts. 2. If he is claiming the mileage ie 40p for 10,000 miles etc etc.. Can he still claim the VAT back on fuel receipts. 3. also i take it thism...
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StuartAnder
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5
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2852
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Drawings + VAT
(Preview)
I have a client who has paid for food using the business bank account. I have been informed that this is to be classified as drawings and my question is that is this to be posted as T9 in sage or can the VAT be reclaimed on this? I am intending to post it as bank payment using the drawing nominal code and wonder...
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Mickey
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2
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6633
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importing oil
(Preview)
Hi all, If my client is to import oil can he claim back the vat paid for on the purchase of the oil. Also he has paid for import duty tax (I believe its called) is he able to claim this as a business expense. I can't see why not, thought I would double check!. Hopefully someone can help me, thank you in advance...
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lor
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32
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2801
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confused with prices for local and overseas customers
(Preview)
Good day, could some one make a few things clear to me according to VAT? I was going to buy a few things at UK internet-shop, and saw this "If you live within the UK or EU, all our prices are inclusive of VAT at 17.5%. Any invoice e-mails you receive from us will reflect this. If you require our VAT numbe...
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NikaG
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3
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1488
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VAT on Court Fees & Interest?
(Preview)
Just a quick (hopefully) question. I have a client who had to pursue a customer with a county court judgement. The customer paid up in full including Costs & Fees of £155 and Interest of £17.10. Do they need to pay VAT on either of these amounts or are they exempt? My instinct says no, but despi...
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MarkL
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3
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12194
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Self billing help
(Preview)
Hi I wonder if anyone can help, i get the majority of my income from affiliate marketing, however one network i work with is sending out self billing invoices for one amount but paying a lesser amount. So for example i will get a self billing invoice for say £1500 plus vat but will get credited with just £...
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daniel
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6
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2235
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IMPORT TAX
(Preview)
Can anybody tell me if import tax is recoverable? I work for a Company who manufacture wheels and they recently paid just over £15K import tax on some wheels coming in, the Company are saying that we should be able to claim it back on our next VAT claim - is this correct and if so, do I need to complete any p...
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DebbieM
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5
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4704
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Employee expenses
(Preview)
Guys Here's one for you.... An employee uses his telephone for business calls and claims his expense from the company. The total amount includes the VAT charged from the tel co. Question - can the Ltd co claim the input tax on these calls?? I don't think they can, as its an expense claim for business use f...
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BackOfficeGroup
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11
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2323
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VAT when sharing revenue
(Preview)
I've just got a quick question about VAT - I was hoping someone here might know the answer. If we're collecting payments on behalf of suppliers and keeping a percentage, do we have to charge VAT for the whole sale, or just our portion if the supplier is not VAT registered? Many thanks in advance.
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castaad
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6
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5051
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Milage Question?????
(Preview)
Hi, I have been asked by a friend that is a self employed courier driver about claiming mileage. Can they claim mileage as the norm (40p per mileage up to 10,000miles and 25p thereafter). Also when recording the milage can they record 'say' 133miles one way to 'say' cardiff and then the 133 miles back fr...
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StuartAnder
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12
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2522
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should we be charging Vat on overseas conference delegates
(Preview)
HelloWe are a small company that runs regular conference events in the UKMy question is if someone from an overseas company sends someone to one of our events should we charge them VAT.Does this differ with EU and Non EU customersWe used to base it on where the service was delivered ie if in the UK then th...
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CPP
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1
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2239
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Sage Tax Codes
(Preview)
Hi can anybody tell me which tax codes to use for EU purchases. is T7 for none vat & T8 for Vat invoices or is it the other way round?? Thanks
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Hopeful
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1
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1560
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Van as asset
(Preview)
Could someone please clarify for me if I put my clients van purchase through the books as an asset he can claim all motoring expenses on his SA and claim the purchases price as capital allowance on his SA aswell. Jill
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jillemily
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9
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5720
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Discounts received
(Preview)
Hi guys Here's one for you. A debtor deducts 3% if it pays your sales invoice within 120 days. When you then raise the c/n for this discount on your ledger, do you work out the VAT on this portion. I would but just want to make sure. This is not our terms but the terms that the debtor has adopted, which we have t...
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BackOfficeGroup
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11
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2234
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CIS tax
(Preview)
Can anyone help me please on how to put CIS tax through the ledgers as both a contractor & a sub-contractor? Lisa
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LBOOKS
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0
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1596
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calculating VATable items for business on Retail Apportionment (1) Scheme
(Preview)
I need help and it doesn't seem to me that HMRC are particularly willing to help every time I call as they do not give me an answer but rather refer me to publications which again do not answer my question. Situation: I have a new client who has taken over a grocery store from a previous client. The new clien...
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ethem
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2
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3472
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VAT on consultancy services to the Republic of Ireland
(Preview)
Hello there, This is the first time I've posted on here, but have often used it as a good source of information. I'm a self employed bookkeeper, only been trading around a year. I am in need of some advice with regards to VAT on consultancy work, as I have found conflicting advice on other sites. My client...
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class71
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1
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2513
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Register for VAT
(Preview)
Hi All I am a little confused, do I have to be VAT registered to submit client VAT Returns online, can anyone help?
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Chris Green
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8
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1871
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