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

Eva D Maytree · Eva D Maytree

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...

G905ALR · G905ALR

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...

Lusk · Lusk

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...

Leila77 · Leila77

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...

Josh92 · Josh92

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...

Wombat · Wombat

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...

Wombat · Wombat

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

SecondTrader · SecondTrader

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...

tonys · tonys

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...

Hana NB · Hana NB

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...

Songhurstadmin · Songhurstadmin

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...

Count1314 · Count1314

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...

Jojo50 · Jojo50

I am really confused I have a spreadsheet to monitor my tax and my purchase tax is not balancing . I have printed out the sage report and every invoice I have ticked off and is correct. On the report when I add up every transaction it balances with my spreadsheet yes on nominal codes 2201 I think it is over a £...

DAG · DAG

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

TartanElephant · TartanElephant

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...

psprigs · psprigs

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...

digiportal · digiportal

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...

NA_AA · NA_AA

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.

pictures · pictures

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...

FoxAccountancyServices · FoxAccountancyServices

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...

Topic		Started By	Replies	Views	Last Post
	Pension - Topping Up Employer Contribution (Preview) 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...	Eva D Maytree	3	2158	Mon Jan 29 23:03 2024 by Diona
	Employee expense reimbursement through payroll (Preview) 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...	G905ALR	0	1094	Thu Jan 25 23:21 2024 by G905ALR
	VAT on Purchase & Sales (Preview) 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...	Lusk	0	1140	Wed Jan 24 21:57 2024 by Lusk
	Wrong VAT code, VAT Reversing entries, Sage 50 Cloud #VAT Codes #Sage 50 #VAT Reversing Entries (Preview) 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...	Leila77	1	1231	Thu Jan 11 13:17 2024 by YouNeedTo
	Free AI tool for working out UK VAT treatment when bookkeeping. VAT Bot AI (Preview) 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...	Josh92	0	1300	Fri Dec 22 10:03 2023 by Josh92
	Cash Based - Losses Self Assessment (Preview) 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...	Wombat	8	1698	Mon Oct 30 13:00 2023 by Artois
	Cash Basis - Capital Allowance (Preview) 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	Wombat	2	1578	Mon Sep 25 11:17 2023 by Wombat
	Revenue figure when using Flat Rate VAT (Preview) 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...	SecondTrader	8	2356	Tue Aug 1 05:04 2023 by Artois
	Higher rate taxpayer calcs (Preview) 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...	tonys	6	1827	Tue Jun 27 11:39 2023 by tonys
	Unreconciled Vat return transactions in Sage 50 Account (Preview) 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...	Hana NB	5	2868	Mon Jun 26 16:06 2023 by No
	Ebay - VAT on sales (Preview) 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...	Songhurstadmin	4	1809	Sun Jun 11 09:01 2023 by Artois
	Backdated VAT - First Return (Preview) 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...	Count1314	2	1614	Wed May 17 09:47 2023 by No
	Vat not balancing on sage (Preview) I am really confused I have a spreadsheet to monitor my tax and my purchase tax is not balancing . I have printed out the sage report and every invoice I have ticked off and is correct. On the report when I add up every transaction it balances with my spreadsheet yes on nominal codes 2201 I think it is over a £...	Jojo50	2	1989	Mon Mar 27 06:21 2023 by Jack Nicklaus
	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	DAG	5	2108	Tue Mar 14 10:35 2023 by nikita_rai
	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...	TartanElephant	5	2428	Fri Mar 10 10:17 2023 by nikita_rai
	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...	psprigs	3	1865	Tue Jan 17 12:52 2023 by Taxagent
	Freeagent & purchase of vehicle VAT vehicle journal entry (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...	digiportal	4	2254	Thu Dec 29 17:34 2022 by digiportal
	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.	NA_AA	40	3599	Sat Nov 12 12:19 2022 by paysquare
	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...	pictures	11	4387	Mon Oct 31 13:52 2022 by Shamus
	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...	FoxAccountancyServices	3	11277	Fri Oct 21 18:04 2022 by John the booky
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