VAT, Payroll & Tax - The Book-keepers Forum (UK)

remington · remington

Hi Guys I will be processing the payroll for a client this week, I am a little confused, the employee in question is going on maternity leave as from the 14th February, she is being paid SMP, she as also asked for holiday pay whilst she is on maternity leave, does anyone know if she is entitled to holiday p...

RobRJBS · RobRJBS

http://rjbusinesssolutions.blogspot.com/2012/02/how-to-get-tax-man-to-say-i-love-you.html

golder · golder

If I am a higher rate tax payer and I hold 200,000 5% £1 preference shares, after one year what will my actual return % be (it will be slightly different than 5%) after taking into account my dividend income, income tax payments (32.5%), and deducting the tax that was taxed at source (tax credits)? I'm...

Diona · Diona

Hi everyone, My question is regarding VAT on replacement cost of any Hire Goods which are lost. "The Customer will pay to the Supplier the replacement cost of any Hire Goods which are lost, stolen and/or damaged beyond economic repair during the Hire Period less the amount paid to the Suppli...

QBE Book-Keeping · QBE Book-Keeping

One of my clients is showing a small profit for their Self Assessment for 2010-11. If we add in some accruals for the year, therefore showing a loss, will they have any tax to pay? My client has drawn £16,564 over the year, from a Turnover of £ 57,178

lindab · lindab

Hi there, My client is just starting self employment, and wishes to buy a van. I understand that he can claim AIA for 100% of the van, but this will be in the tax year 2012/2013, as it will be more effective. Am I correct in thinking that there is no point whatsoever claiming the AIA on a pro rata basis for th...

spurs1952 · spurs1952

Can anyone pl. assist me as reading some HMRC stuff it's just not always clear! My friend is a newish self employed life coach. His work often entails round-trip travelling to the city/or locally to meet clients (not companies) in hotels/coffee shops to meet and fully discuss their concerns in len...

AMajor · AMajor

Hi, I'm just finalising a vat return for a client who uses Xero accounting. I've run the vat report and checked everything looks okay. I've also run the balance sheet report and the vat liability account as at 31st Dec is about £2k less than the vat due on the vat return. I'm wondering if the balance in the...

PW1980 · PW1980

Morning All, Payroll question today. I run a payroll for a company with just a director and his wife on it. Both run at £589.00 p/m at the request of the clients Accountant. The wife has emailed me, informing me that she has now taken on a part time job, where she will be earning aprox £400.00 per month...

Mycroft · Mycroft

Hi there I know that HMRC expect payroll records to be kept for the current and the three preceding years. However, does that mean as a payroll agent I can destroy payroll records for 2007/08 and earlier? The records in question are for ex-clients. Many Thanks Mycroft

QBE Book-Keeping · QBE Book-Keeping

My client is a Self-Employed DJ for a radio station. He has no car and travels to work by public transport. Although he has one central place of work (the radio station), he is, as a journalist, out and about at various venues throughout the week, again using public transport. He may not go into the radi...

hrawal · hrawal

Hi I have a part time employee who has recently been made redundant from her primary job. Her other employer was applying her tax allowance code e.g. 672L and would have been doing for April-June (3 months). I have always had her in my payroll system with a code of BR (Basic Rate) and have been deducting...

buddy · buddy

Please can anyone tell me if i am supposed to put the purchase of factory tools to fixed assets or should they be put to expense .

jillemily · jillemily

My previous employer deducted an amount from my last wage which was fine as it was for money previously paid for hours not worked. But my query is about whether this deduction should have been shown on my wage slip or not and then reflected on my p45. As it stands my earnings on my p45 are more than I actuall...

kjmcculloch83 · kjmcculloch83

I've had a read of HMRC's guidance on this and still can't decide. I have a client who has a Nissan Nivara which he uses for work (self employed). He's just come to me for some bookkeeping and self assessment. I can't decide whether the vehicle is plant and machinery or not. Any ideas? Kris

clairet · clairet

Hi everyone OK, I have a silly question - I'm doing a Payroll course, and wondered if I'm right in thinking that there isn't a return to be submitted to HMRC each month for payroll? I've looked all through my notes and can't find any reference to this. It seems a bit odd to have to make payments without any a...

Noola · Noola

I started a new job earlier this week and took over the job of the previous bookkeeper. I produced the VAT Return today but I've noticed there is a figure in box 9 that shouldn't be there. This figure has always been looking at previous VAT Returns. I've clicked on the figure and it shows all the figures t...

Bucks Bodger · Bucks Bodger

Hi I need some help in using the Basic Tools. I run a payroll for a Ltd Company where the Director is the only employee. He pays himself enough to qualify for State benefits but to stay under the threshold so pays no tax or NI. He has now ceased to trade so I need to close down the PAYE scheme, so I need to subm...

Diona · Diona

Hi everyone, Can I claim back the VAT if I buy goods (standard vat rate) in Tesco for business use and get a receipt on which trere isn't VAT. Thanks :)

PW1980 · PW1980

Afternoon, Firstly thanks to everyone that helped me yesterday with my payroll question, the explanations were great and helped me to explain to client, the options she had for calculating pay for a mid month joiner. Same Client, this time the question in centered around Holiday Entitlement. Cli...

Topic		Started By	Replies	Views	Last Post
	Statutory Maternity Pay and Holiday Pay (Preview) Hi Guys I will be processing the payroll for a client this week, I am a little confused, the employee in question is going on maternity leave as from the 14th February, she is being paid SMP, she as also asked for holiday pay whilst she is on maternity leave, does anyone know if she is entitled to holiday p...	remington	2	2429	Wed Feb 8 16:26 2012 by remington
	How to get the tax man to say I love you! (Preview) http://rjbusinesssolutions.blogspot.com/2012/02/how-to-get-tax-man-to-say-i-love-you.html	RobRJBS	0	992	Mon Feb 6 21:04 2012 by RobRJBS
	Tax on dividends (Preview) If I am a higher rate tax payer and I hold 200,000 5% £1 preference shares, after one year what will my actual return % be (it will be slightly different than 5%) after taking into account my dividend income, income tax payments (32.5%), and deducting the tax that was taxed at source (tax credits)? I'm...	golder	2	1035	Mon Feb 6 21:31 2012 by fabs79
	VAT on replacement cost of Hire Goods (Preview) Hi everyone, My question is regarding VAT on replacement cost of any Hire Goods which are lost. "The Customer will pay to the Supplier the replacement cost of any Hire Goods which are lost, stolen and/or damaged beyond economic repair during the Hire Period less the amount paid to the Suppli...	Diona	4	6404	Sun Feb 5 19:49 2012 by Wella
	Self Assessment (Preview) One of my clients is showing a small profit for their Self Assessment for 2010-11. If we add in some accruals for the year, therefore showing a loss, will they have any tax to pay? My client has drawn £16,564 over the year, from a Turnover of £ 57,178	QBE Book-Keeping	6	1487	Sat Feb 4 19:39 2012 by Andy_L75
	AIA Query (Preview) Hi there, My client is just starting self employment, and wishes to buy a van. I understand that he can claim AIA for 100% of the van, but this will be in the tax year 2012/2013, as it will be more effective. Am I correct in thinking that there is no point whatsoever claiming the AIA on a pro rata basis for th...	lindab	4	2058	Fri Feb 3 08:07 2012 by AICB
	SELF EMPLOYED - CLAIMABLE EXPENSES QUERY (Preview) Can anyone pl. assist me as reading some HMRC stuff it's just not always clear! My friend is a newish self employed life coach. His work often entails round-trip travelling to the city/or locally to meet clients (not companies) in hotels/coffee shops to meet and fully discuss their concerns in len...	spurs1952	3	1969	Fri Feb 3 05:16 2012 by gbm
	Difference in Vat liaibility on balance sheet and vat due on vat return (Preview) Hi, I'm just finalising a vat return for a client who uses Xero accounting. I've run the vat report and checked everything looks okay. I've also run the balance sheet report and the vat liability account as at 31st Dec is about £2k less than the vat due on the vat return. I'm wondering if the balance in the...	AMajor	2	3198	Fri Feb 3 01:07 2012 by AMajor
	Payroll Question (Preview) Morning All, Payroll question today. I run a payroll for a company with just a director and his wife on it. Both run at £589.00 p/m at the request of the clients Accountant. The wife has emailed me, informing me that she has now taken on a part time job, where she will be earning aprox £400.00 per month...	PW1980	2	1023	Thu Feb 2 12:38 2012 by Tom McClelland
	Payroll Records (Preview) Hi there I know that HMRC expect payroll records to be kept for the current and the three preceding years. However, does that mean as a payroll agent I can destroy payroll records for 2007/08 and earlier? The records in question are for ex-clients. Many Thanks Mycroft	Mycroft	6	1434	Thu Feb 2 02:15 2012 by Shamus
	Place of work (Preview) My client is a Self-Employed DJ for a radio station. He has no car and travels to work by public transport. Although he has one central place of work (the radio station), he is, as a journalist, out and about at various venues throughout the week, again using public transport. He may not go into the radi...	QBE Book-Keeping	5	1103	Wed Feb 1 22:33 2012 by Wella
	Taking on the tax allowance for an employee? (Preview) Hi I have a part time employee who has recently been made redundant from her primary job. Her other employer was applying her tax allowance code e.g. 672L and would have been doing for April-June (3 months). I have always had her in my payroll system with a code of BR (Basic Rate) and have been deducting...	hrawal	4	3081	Wed Feb 1 04:58 2012 by Stardoe
	should we capitalize tools purchased for factory use which cost less than £150.00 (Preview) Please can anyone tell me if i am supposed to put the purchase of factory tools to fixed assets or should they be put to expense .	buddy	2	2397	Tue Jan 31 07:05 2012 by buddy
	Wage deducted (Preview) My previous employer deducted an amount from my last wage which was fine as it was for money previously paid for hours not worked. But my query is about whether this deduction should have been shown on my wage slip or not and then reflected on my p45. As it stands my earnings on my p45 are more than I actuall...	jillemily	1	988	Tue Jan 31 04:32 2012 by Stardoe
	Car or Van (Preview) I've had a read of HMRC's guidance on this and still can't decide. I have a client who has a Nissan Nivara which he uses for work (self employed). He's just come to me for some bookkeeping and self assessment. I can't decide whether the vehicle is plant and machinery or not. Any ideas? Kris	kjmcculloch83	5	3562	Mon Jan 30 23:48 2012 by Shamus
	Payroll returns (Preview) Hi everyone OK, I have a silly question - I'm doing a Payroll course, and wondered if I'm right in thinking that there isn't a return to be submitted to HMRC each month for payroll? I've looked all through my notes and can't find any reference to this. It seems a bit odd to have to make payments without any a...	clairet	7	1257	Mon Jan 30 21:49 2012 by Sammy76
	Unusual figure in VAT return - Sage 200 (Preview) I started a new job earlier this week and took over the job of the previous bookkeeper. I produced the VAT Return today but I've noticed there is a figure in box 9 that shouldn't be there. This figure has always been looking at previous VAT Returns. I've clicked on the figure and it shows all the figures t...	Noola	6	1722	Mon Jan 30 17:58 2012 by Noola
	HMRC Basic PAYE Tools - Year End problem (Preview) Hi I need some help in using the Basic Tools. I run a payroll for a Ltd Company where the Director is the only employee. He pays himself enough to qualify for State benefits but to stay under the threshold so pays no tax or NI. He has now ceased to trade so I need to close down the PAYE scheme, so I need to subm...	Bucks Bodger	1	5026	Mon Jan 30 02:31 2012 by YLB-HO
	Claim back the VAT from Tesco (Preview) Hi everyone, Can I claim back the VAT if I buy goods (standard vat rate) in Tesco for business use and get a receipt on which trere isn't VAT. Thanks :)	Diona	6	18261	Sun Jan 29 02:23 2012 by Diona
	Payroll & Holiday entitlement Calculations (Preview) Afternoon, Firstly thanks to everyone that helped me yesterday with my payroll question, the explanations were great and helped me to explain to client, the options she had for calculating pay for a mid month joiner. Same Client, this time the question in centered around Holiday Entitlement. Cli...	PW1980	4	3081	Sat Jan 28 17:03 2012 by Tom McClelland
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