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

Cheshire · Cheshire

Hi Folks Scenario:- VAT registered limited company going to be appointing liquidator for MVL (Members Voluntary liquidation). Liquidator wants payment up front for their invoice (ie before the liquidation date). Fair point, seems a common stance in such. Invoice is expected to show will incl...

dandiego25 · dandiego25

Hi all, I have a client who leases out studio spaces within a large building. My client is not VAT registered but some of the tenants are. My client charges the tenants for the electricity they use. Some of the tenants wish to claim back the VAT on electricity which has been charged to my client by the elec...

Jay · Jay

Good afternoon, HMRC have provided a method of obtaining information relevant for the completion of a Tax Return called Application Program Interfaces or API's which is now available with Taxcalc. The set up was pretty easy but when asked for a phone number for HMRC to send text verification cod...

Leger · Leger

Just a quick check to put my mind at rest. If a company makes 5k profit but there's an £8k overdrawn dla, I can use 4k of dividends to reduce the dla I believe? It's the first one I've had that's been overdrawn so I'm just double checking.

Jowest31 · Jowest31

Hi Just wanting to do a spreadsheet to help with holiday pay and just need to clarify formula is correct. Employee started beginning April and leaves end of Sept, already taken 6 days holiday, so my formula reads.Works 2 days per week 11.2 x (6/12)-6= 0.4= No Holiday Pay Left Days entitlement x ( 6 mo...

Samilou67 · Samilou67

I have a client who I have been doing the payroll for for over 3 years and about 8 months ago she took on a young girl doing about 6 to 8 hours a week. I have discovered over the last couple of weeks that it is not the young girl doing the work it is her mother who already has a full time job. I am guessing she is avo...

ChrisBolton · ChrisBolton

Hi Does anyone know the vat implications of exporting goods to Iceland? Im assuming that it is similiar to exporting to an EU country, ie if vat registered no vat is charged

Artois · Artois

Hi all Just wondered if anyone else is having any trouble with the HMRC site I have been trying to sign in but nothing seems to be happening Cheers

Artois · Artois

Morning all HMRC are carrying out a compliance check on one of my clients SA tax return, I have spoken to my client and they are happy for me to deal with HMRC on their behalf and give them any information that is needed, but was just wondering how I stood on client confidentiality and should I be getting w...

jakobt · jakobt

Our company made an impairment of some shares in an affiliated company, due to the auditors requiring such impairment. Should a deferred tax asset be recognized for this potential Capital loss. (We still own the shares)

HumanShale · HumanShale

The company I work for is going to be registered for partial exemption VAT. I'm preparing the documents to send over to the accountants and was just hoping to get a bit more information about the first return calculation in order to not bombard them with useless info. At this point in time no VAT supplie...

Leger · Leger

One of my clients ceased trading in July, after the landlord gave notice to quit immediately. She had one employee who was entitled to redundancy, and was unable to pay her it. The employee has to make a claim for redundancy with the insolvency service, but first they have to take it to an employment tr...

Artois · Artois

Hi all I was just seeking some advice on Foster care relief, I have a client who is self-employed Sole trader and is looking to foster a child am I correct in my understanding that the £10k allowance is tax free and this will not affect their own personal allowance Any help would be great Cheers

Artois · Artois

Hi all, I received a phone call today to inform me that one of my clients had passed away at the weekend, he had opened a small cleaning business in January this year as a Sole Trader and I had completed his accounts up to April 2017. As far as I am aware the business has no assets or liabilities at the time of...

Gail72 · Gail72

Hi all Seeking your wonderful advise and help again!!! xx Have decided to take the step to learn CIS. I was hoping to find a course i could do but cant seem to find one - not even a webinare or anything

So i have asked an accountant i know to set m some sample test questions to work on I understand the p...

AccountingAdmin · AccountingAdmin

I have a client who works self employed, invoicing her clients at the end of each month. She has one Current Account where all her invoice payments are paid into, and a savings account which she uses for non business. In 2016 she also set up a small charity and until she knew if it would grow and be a viable "...

Elaine Rae · Elaine Rae

I have a client who's employed a lad for one day and paid them £50.00 cash. They were under the impression that if it was a 'one-off' payment and under a certain amount then there is not liability to report this though PAYE, however that's not my understanding. I have explained that, as this employee h...

andrewk · andrewk

Hi, Im opening a startup in the UK and wondering whether anyone can help me with ins and outs of registration for VAT? Ive stumbled upon a pretty decent resource helping with VAT registration. Hope << Hidden embedded link removed by moderator >> one will come in handy, but I wonder whe...

Lyndsey · Lyndsey

Hi all I was just wondering how you would claim a mobile phone bill which is part personal part business. Client is a sole trader and not VAT registered. His handset cost £600, split over 2 years interest free payments. His has approximated about 50:50 for his split, however, would he be allowed to cla...

sjarrettbookkeeping · sjarrettbookkeeping

Hi guys, I have a client who are a limited company providing consultancy services in UK and some of Europe. They are organising an evening reception in Portugal for around 200 people, predominantly clients, including venue hire food and drink. Supplier has asked for vat number and presumably g...

Topic		Started By	Replies	Views	Last Post
	VAT reclaim with MVL (Preview) Hi Folks Scenario:- VAT registered limited company going to be appointing liquidator for MVL (Members Voluntary liquidation). Liquidator wants payment up front for their invoice (ie before the liquidation date). Fair point, seems a common stance in such. Invoice is expected to show will incl...	Cheshire	2	1759	Thu Nov 2 18:28 2017 by Cheshire
	Claiming Back VAT (with a middle man) (Preview) Hi all, I have a client who leases out studio spaces within a large building. My client is not VAT registered but some of the tenants are. My client charges the tenants for the electricity they use. Some of the tenants wish to claim back the VAT on electricity which has been charged to my client by the elec...	dandiego25	4	1512	Tue Oct 31 19:41 2017 by leshoward
	Tax Calc and API (Preview) Good afternoon, HMRC have provided a method of obtaining information relevant for the completion of a Tax Return called Application Program Interfaces or API's which is now available with Taxcalc. The set up was pretty easy but when asked for a phone number for HMRC to send text verification cod...	Jay	1	1381	Sat Oct 28 14:28 2017 by Jay
	Overdrawn DLA (Preview) Just a quick check to put my mind at rest. If a company makes 5k profit but there's an £8k overdrawn dla, I can use 4k of dividends to reduce the dla I believe? It's the first one I've had that's been overdrawn so I'm just double checking.	Leger	2	1438	Tue Oct 24 15:00 2017 by Leger
	holiday Pay (Preview) Hi Just wanting to do a spreadsheet to help with holiday pay and just need to clarify formula is correct. Employee started beginning April and leaves end of Sept, already taken 6 days holiday, so my formula reads.Works 2 days per week 11.2 x (6/12)-6= 0.4= No Holiday Pay Left Days entitlement x ( 6 mo...	Jowest31	2	1457	Thu Oct 19 15:39 2017 by Jowest31
	What should I do? (Preview) I have a client who I have been doing the payroll for for over 3 years and about 8 months ago she took on a young girl doing about 6 to 8 hours a week. I have discovered over the last couple of weeks that it is not the young girl doing the work it is her mother who already has a full time job. I am guessing she is avo...	Samilou67	8	2112	Wed Oct 18 11:10 2017 by Samilou67
	Exporting goods to Iceland (Preview) Hi Does anyone know the vat implications of exporting goods to Iceland? Im assuming that it is similiar to exporting to an EU country, ie if vat registered no vat is charged	ChrisBolton	2	2773	Wed Oct 4 14:12 2017 by ChrisBolton
	HMRC problems (Preview) Hi all Just wondered if anyone else is having any trouble with the HMRC site I have been trying to sign in but nothing seems to be happening Cheers	Artois	6	1400	Mon Oct 2 15:41 2017 by Artois
	Compliance check (Preview) Morning all HMRC are carrying out a compliance check on one of my clients SA tax return, I have spoken to my client and they are happy for me to deal with HMRC on their behalf and give them any information that is needed, but was just wondering how I stood on client confidentiality and should I be getting w...	Artois	2	1286	Mon Oct 2 15:32 2017 by Artois
	Deferred tax asset recognition - Impairment Shares _ Unrealized (Preview) Our company made an impairment of some shares in an affiliated company, due to the auditors requiring such impairment. Should a deferred tax asset be recognized for this potential Capital loss. (We still own the shares)	jakobt	0	1120	Thu Sep 28 22:45 2017 by jakobt
	Partial Exemption - First Return Documents (Preview) The company I work for is going to be registered for partial exemption VAT. I'm preparing the documents to send over to the accountants and was just hoping to get a bit more information about the first return calculation in order to not bombard them with useless info. At this point in time no VAT supplie...	HumanShale	6	1685	Tue Sep 26 19:21 2017 by Cheshire
	Redundancy Claim (Preview) One of my clients ceased trading in July, after the landlord gave notice to quit immediately. She had one employee who was entitled to redundancy, and was unable to pay her it. The employee has to make a claim for redundancy with the insolvency service, but first they have to take it to an employment tr...	Leger	10	1696	Fri Sep 22 16:59 2017 by Leger
	Foster care relief (Preview) Hi all I was just seeking some advice on Foster care relief, I have a client who is self-employed Sole trader and is looking to foster a child am I correct in my understanding that the £10k allowance is tax free and this will not affect their own personal allowance Any help would be great Cheers	Artois	3	1362	Wed Sep 20 16:52 2017 by Artois
	Client passing away (Preview) Hi all, I received a phone call today to inform me that one of my clients had passed away at the weekend, he had opened a small cleaning business in January this year as a Sole Trader and I had completed his accounts up to April 2017. As far as I am aware the business has no assets or liabilities at the time of...	Artois	10	1659	Tue Sep 19 22:15 2017 by Cheshire
	CIS Example test questions ( 1 2 ) (Preview) Hi all Seeking your wonderful advise and help again!!! xx Have decided to take the step to learn CIS. I was hoping to find a course i could do but cant seem to find one - not even a webinare or anything So i have asked an accountant i know to set m some sample test questions to work on I understand the p...	Gail72	94	6778	Thu Sep 14 22:33 2017 by Leger
	Advice required re self employment and donations received (Preview) I have a client who works self employed, invoicing her clients at the end of each month. She has one Current Account where all her invoice payments are paid into, and a savings account which she uses for non business. In 2016 she also set up a small charity and until she knew if it would grow and be a viable "...	AccountingAdmin	15	1089	Wed Sep 13 16:11 2017 by AccountingAdmin
	One off payment (Preview) I have a client who's employed a lad for one day and paid them £50.00 cash. They were under the impression that if it was a 'one-off' payment and under a certain amount then there is not liability to report this though PAYE, however that's not my understanding. I have explained that, as this employee h...	Elaine Rae	2	1217	Tue Sep 12 10:18 2017 by Elaine Rae
	UK VAT registration (Preview) Hi, Im opening a startup in the UK and wondering whether anyone can help me with ins and outs of registration for VAT? Ive stumbled upon a pretty decent resource helping with VAT registration. Hope << Hidden embedded link removed by moderator >> one will come in handy, but I wonder whe...	andrewk	3	1392	Mon Sep 4 20:33 2017 by Shamus
	Claiming for a mobile phone cost? (Preview) Hi all I was just wondering how you would claim a mobile phone bill which is part personal part business. Client is a sole trader and not VAT registered. His handset cost £600, split over 2 years interest free payments. His has approximated about 50:50 for his split, however, would he be allowed to cla...	Lyndsey	3	1514	Thu Aug 24 15:40 2017 by Lyndsey
	Vat on client entertainment in eu (Preview) Hi guys, I have a client who are a limited company providing consultancy services in UK and some of Europe. They are organising an evening reception in Portugal for around 200 people, predominantly clients, including venue hire food and drink. Supplier has asked for vat number and presumably g...	sjarrettbookkeeping	2	1700	Wed Aug 23 18:46 2017 by Cheshire
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