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VAT exempt invoices
(Preview)
Hi there my supplier refuses to send me an VAT invoice for exempt service. Do I need a proper VAT invoice for exempt transaction or it can be recorded as exempt without a invoice being provided by supplier. Hope it makes sense. Regards
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DAG
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5
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1748
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First VAT Return - Reclaim Input Tax
(Preview)
Hi, I was wondering if anyone can help. My husband has just become VAT registered (well from the 1 Nov) and we are going through what we still have as assets at time of registration, so we can reclaim the VAT. I have a query regarding a car that we have on a personal contract hire. We initially paid a deposit...
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TartanElephant
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5
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2058
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podiatry / chiropody VAT exempt business?
(Preview)
My partner and her sister run a clinic, they deal with podiatry /chiropody only, no fancy nail painting services. They have been doing this for around 10 years. They rent the building and pay the usual bills. They are slowing down their clients because they are coming upto the £85k VAT threshold. On th...
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psprigs
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3
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1443
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Freeagent & purchase of vehicle
(Preview)
Hi all, I'm using FreeAgent. I recently purchased a new company vehicle (a van) £67k inc. VAT). Due to bank payment limits I didnt transfer in the funds (Owners Equity) to pay for it from my personal account, instead I paid for the vehicle directly (personally). All the VAT receipts and invoices etc. a...
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digiportal
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4
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1657
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outsource payroll
(Preview)
Hi, We are thinking of outsourcing any payroll services our clients may require as this is something we do not want to do. Has anyone had experience of outsourcing payroll? can recommend a payroll provider? and what type of costs to expect? Thanks in advance for your help.
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NA_AA
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40
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3234
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Payroll Manager - Holiday Pay
(Preview)
Hi, I've been a bit quiet recebtly because its been absolutely manic. But anyway remember last year when Sage Payroll quoted us an exorbitant amount to renew. I got authorisation to change to Moneysoft Payroll Manager and I'm just setting it up. I'm on a free trial until the end of the month and we are g...
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pictures
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11
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3948
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Removing a company from HMRC basic tools software
(Preview)
Hey lovelies! Does anyone know how to delete a company in Basic Tools?? I had a client who was a nigtmare with his wages, so I asked him to go to an established payroll firm (you know PAYE isn't my area!)... I sent the payroll bureau the mid year figures, but when I try to delete the company, it says I cannot d...
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FoxAccountancyServices
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3
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10156
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Basic PAYE - how to enter redundancy
(Preview)
Hi John the bookkeeper here with question re how to use Basic PAYE in context of redundancy. Paye basic user manual re leavers says leaver process does not apply to redundancy, but does not appear to contain a section covering it. How do I enter redundancy in Basic PAYE please (if not, what do I do inst...
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John the booky
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0
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1404
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Wage Advance Help
(Preview)
Hello, This is probably a very silly question - but I can't seem to figure this out on my own. What should the journal be for a wage advance? I usually post the advance to Net Pay as a bank payment - but I don't know what jouranl to post once the advance has been paid back by the employee (deducted from wages o...
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Mrs A
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1
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1565
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Advice on what to do with money in a limited company
(Preview)
Hi all First post so hope i dont break any posting rules! Ive had a limited company for several years now and have built up capital in it but switched to a perm role after the introduction of IR35 in the private sector. My salary is just below 100k and now im stuck. If i start drawing dividends and salary f...
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Metatron
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5
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2181
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Self assessment
(Preview)
How to deal if client missed submitting their self assessment
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pbr
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3
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1787
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Capital Gains Tax on FHL.
(Preview)
This is just to test how much I know (or more likely don't know), regarding CGT on property. One of my clients has expressed an interest in selling his FHL. The owner is looking to reduce/eliminate CGT if he sells. The figures are (very) rough. Bought for 100k, selling for 170k, making a capital gain o...
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Leger
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4
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1595
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Treatment of VAT when supplier paperwork is missing
(Preview)
Hi, there seems to be conflicting advice from the various accountants I work with (I'm a freelance bookkeeper) as to the correct VAT rate to use when a receipt/bill is missing from a UK-based supplier, and won't be able to be found. For example, a purchase of fuel is being coded by one accountant as ZR an...
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Eva D Maytree
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2
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1472
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Posting a bank payment into Directors private pension fund
(Preview)
Hi, I'm posting a payment from a Ltd company into the company directors private pension fund. Can anyone advise how to code this in SAGE please. Many thanks for your help M -- Edited by Knighton Bookkeeper on Tuesday 13th of September 2022 05:24:10 PM
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Knighton Bookkeeper
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5
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1502
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Output Tax on Assets at Deregistration
(Preview)
Hi, I was just wondering if anyone can help with the journal for allocating output tax at deregistration on a car that was purchased. The car was only purchased 3 months before deregistering, and input tax was claimed. Am I correct in that I declare output tax on the NBV at the date of deregistering? If s...
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morgwick
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1
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1297
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Company ordering printing work based in Australia but Job done in the UK and delivered in the UK
(Preview)
Hi! We have a new customer based in Australia, and has instructed us to print and deliver some literature to a UK address, am I right in thinking that I would need to charge VAT as everything has taken place in the UK and nothing will leave the UK? I can't seem to find this particular case on HMRC's website....
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Bugsy
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1
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1278
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CIS query
(Preview)
Hello, I've been in the construction game for several years now and I've recently taken on a self employed person to help me handle the work load. All this time, the contractors have paid my CIS - which is the 20%. I'm now confused as how to how it translates to paying my lad. Say I invoice £1000 to the contr...
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K1ngD
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5
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1682
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Early year payroll submission - Xero
(Preview)
Good morning all, We have just paid our first quarters PAYE and noticed that the first two months employers allowance had not been taken into account. On questioning this with HMRC, they informed me that they had off set the first two months against an outstanding balance from the previous year. No on...
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HCJC
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1
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1376
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Australian Employee
(Preview)
Hi Guys, We have an employee who is emigrating to Australia and will continue to work for us remotely. Does anyone know where I can find out about the income tax implications for this employee preferably in basic English as the only thing I can find is in legalese Thanks for any help I can get.
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Riel
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3
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1289
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Any recommendations - or anti-recommendations - for free software compatible with "Making Tax Digital" for VAT?
(Preview)
Hi everyone, As the title says, I am hoping someone here can advise me on what software to use for "Making Tax Digital". My husband and I have a VAT-registered small business (a limited company), which to be honest does very little business these days. HMRC have said that we must start keeping digital...
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tattycat
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1
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1292
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