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

jacky S · jacky S

I am new here and wondered if anyone could help. I am waiting to sit my level 2 manual bookkeeping exam but have not done any specific course for self assesment. A friend has asked me to help him with his self assesment for 09/10. He is a sole trader but has 3 separate businesses. To my understanding he s...

linda19 · linda19

I have just finished a vat return. There are two purchase invoices quite large amounts from sweeden. There is no VAT on these. I have set the supplier up with T9 code. When i run the vat return should this now go in Box 8 (total amount of ec purchase) and not appear in box 6 as it is at the moment???

arunas · arunas

Hi All, I am new to this forum and hope to find lots of good advice. VAT on Sales We are operating cash sales business (food shop).Only few % of our purchases are at standard VAT rate 17.5%,the rest is 0%. Our till receipts do not show VAT on sales.What is the best practice to account for VAT on the products...

Peasie · Peasie

http://www.taxrelief4escorts.co.uk/Income&expenses.html

littlebookkeeper · littlebookkeeper

Hi, I have just received the self assessment exam from the ICB and I am in the process of wading my way through it. I am not after help with the exam as that would be cheating, just one of the questions is ambiguous and I am not sure exactly what it is meaning. This is what it says: Having reviewed the file, you...

class71 · class71

Good Afternoon All, After recently qualifying as a bookkeeper, I'm know delving into the realms of personal tax returns for some family members to practice on ! Please can someone advise if the Class 4 NIC's (8% of profits between £ 5715 & £ 43875) are based on profits before or after the personal...

Richard67 · Richard67

I am interested in doing Tax Return's and intend to do the Self-Assesment Tax Return module with the ICB level 3, they recommend however that you obtain the above guide direct from HMRC before completing this module, however all I can find on their website is various electronic guides you can access...

Wella · Wella

I have a Ltd Co. that incoporated 23/06/2009 and has an accounts reference date set at 30/06. The first set of annual accounts have been made up to 30/06/2010 (1 year and 8 days) Because the accounting period is more than 12 months, I have received two notices to deliver CT returns, the first for the 12 m...

chick22 · chick22

Hi all, I am currently preparing my first vat return and am a little stuck. . . we are a business based on 3 shops and the magical tills we purchased have stopped working so I am unable to find the exact amount of vat charged to customers. is it ok to find the amount paid in vat for the things we are selling on wi...

Peasie · Peasie

I think my next task will be to register as an Agent with HMRC. Is this the address I write to : HM Revenue & Customs Central Agent Authorisation Team Longbenton Newcastle upon Tyne NE98 1ZZ

Waz · Waz

Hi, I am new to this forum and would like your opinions on the flat rate scheme as ive just registered my company for vat. I am thinking of registering for the vat flat rate scheme because i dont have any expenses really. Is it worth registering for the scheme..

RuthA · RuthA

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...

AICB · AICB

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'...

StuartAnder · StuartAnder

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...

Mickey · Mickey

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...

lor · lor

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...

NikaG · NikaG

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...

MarkL · MarkL

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...

daniel · daniel

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 £...

DebbieM · DebbieM

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...

Topic		Started By	Replies	Views	Last Post
	Self assesment - multiple businesses (Preview) I am new here and wondered if anyone could help. I am waiting to sit my level 2 manual bookkeeping exam but have not done any specific course for self assesment. A friend has asked me to help him with his self assesment for 09/10. He is a sole trader but has 3 separate businesses. To my understanding he s...	jacky S	2	1923	Thu Aug 26 13:04 2010 by Merlion ABS
	VAT on EU - Sage Line 50 (Preview) I have just finished a vat return. There are two purchase invoices quite large amounts from sweeden. There is no VAT on these. I have set the supplier up with T9 code. When i run the vat return should this now go in Box 8 (total amount of ec purchase) and not appear in box 6 as it is at the moment???	linda19	2	4118	Wed Aug 25 11:52 2010 by linda19
	VAT on Sales (Preview) Hi All, I am new to this forum and hope to find lots of good advice. VAT on Sales We are operating cash sales business (food shop).Only few % of our purchases are at standard VAT rate 17.5%,the rest is 0%. Our till receipts do not show VAT on sales.What is the best practice to account for VAT on the products...	arunas	4	1885	Thu Aug 19 20:48 2010 by arunas
	it's amazing the websites you end up on looking for tax answers (Preview) http://www.taxrelief4escorts.co.uk/Income&expenses.html	Peasie	9	2444	Wed Aug 18 21:43 2010 by Quentin Pain
	Self assessment help please?? (Preview) Hi, I have just received the self assessment exam from the ICB and I am in the process of wading my way through it. I am not after help with the exam as that would be cheating, just one of the questions is ambiguous and I am not sure exactly what it is meaning. This is what it says: Having reviewed the file, you...	littlebookkeeper	12	2663	Wed Aug 18 10:13 2010 by littlebookkeeper
	Class 4 NIC Contributions (Preview) Good Afternoon All, After recently qualifying as a bookkeeper, I'm know delving into the realms of personal tax returns for some family members to practice on ! Please can someone advise if the Class 4 NIC's (8% of profits between £ 5715 & £ 43875) are based on profits before or after the personal...	class71	7	5805	Tue Aug 17 18:26 2010 by class71
	Self-Assesment Tax Return guide from HMRC (Preview) I am interested in doing Tax Return's and intend to do the Self-Assesment Tax Return module with the ICB level 3, they recommend however that you obtain the above guide direct from HMRC before completing this module, however all I can find on their website is various electronic guides you can access...	Richard67	11	14538	Tue Aug 17 13:54 2010 by ICBUK
	Corporation Tax Accounting Period (Preview) I have a Ltd Co. that incoporated 23/06/2009 and has an accounts reference date set at 30/06. The first set of annual accounts have been made up to 30/06/2010 (1 year and 8 days) Because the accounting period is more than 12 months, I have received two notices to deliver CT returns, the first for the 12 m...	Wella	5	3852	Mon Aug 16 14:14 2010 by louis
	VAT return on sales (Preview) Hi all, I am currently preparing my first vat return and am a little stuck. . . we are a business based on 3 shops and the magical tills we purchased have stopped working so I am unable to find the exact amount of vat charged to customers. is it ok to find the amount paid in vat for the things we are selling on wi...	chick22	4	1951	Mon Aug 16 10:51 2010 by chick22
	Registering as an Agent with HMRC (Preview) I think my next task will be to register as an Agent with HMRC. Is this the address I write to : HM Revenue & Customs Central Agent Authorisation Team Longbenton Newcastle upon Tyne NE98 1ZZ	Peasie	9	5569	Wed Aug 11 17:25 2010 by Brewsie
	VAT FLAT RATE SCHEME (Preview) Hi, I am new to this forum and would like your opinions on the flat rate scheme as ive just registered my company for vat. I am thinking of registering for the vat flat rate scheme because i dont have any expenses really. Is it worth registering for the scheme..	Waz	3	4117	Tue Aug 10 21:53 2010 by Quentin Pain
	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...	RuthA	14	5794	Sun Aug 8 19:38 2010 by Quentin Pain
	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'...	AICB	5	2684	Tue Aug 3 17:32 2010 by littlebookkeeper
	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...	StuartAnder	5	2994	Tue Aug 3 13:42 2010 by RobH
	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...	Mickey	2	6781	Sun Aug 1 14:11 2010 by Mickey
	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...	lor	32	2985	Fri Jul 30 20:00 2010 by lor
	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...	NikaG	3	1643	Fri Jul 30 16:51 2010 by NikaG
	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...	MarkL	3	12370	Fri Jul 30 14:56 2010 by BackOfficeGroup
	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 £...	daniel	6	2378	Thu Jul 29 12:03 2010 by daniel
	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...	DebbieM	5	5063	Thu Jul 29 11:26 2010 by Mickey
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