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

Princess · Princess

A client has been employed up to now and has earned about £23k so far this year and has paid about £7k tax. He is now a director/employee of his own company. what is the ideal amount to pay him? What is the best amount to minimise tax whilst still paying his stamp for his pension? I haven't had this situa...

Marky65 · Marky65

Hi I have a bit of a query (or maybe a whole one) which I think is going to lead to an animated discussion with a client and I just want to make sure that I am correct before I comes to discussing it. The situation is a client, who is the sole director of a limited company has lent the business £10k and the compan...

Elaine R · Elaine R

Hi, I understand that under the cash accounting scheme for VAT you do not pay nor reclaim VAT until you have been paid by debtors or you have paid your creditors. The VAT would still be shown on the BS as a liability but then if the debtors didn't pay you and you didn't pay the creditors would the liability...

AICB · AICB

Hello all, Can anyone point me towards where I can learn the procedure for "Grossing Up"? I have a Director who wanted to receive £3000 pay for month 4, and my payroll program came up with a result and calculated the tax and NI applicable, but I want to understand how to do it "longhand&...

Violet2005 · Violet2005

Hi All. I have a potential client who is asking if child care vouchers can be processed through payroll but then accumulated until they are ready to spend them

Cheshire · Cheshire

Hello I just started looking after a brand new company who are importing goods from China - I have been given a few ''import invoices'' from their Logistics company. All invoices are addressed to the company i look after who are VAT registered. The invoices all show they are for ''Customs VAT and Cu...

Sweetman Accounting · Sweetman Accounting

Here's a Tuesday morning puzzler for you all. I have just taken on a new bookkeeping client. They are a new business providing 100% grant funded vocational training courses to help get people back into work. I am about to start their bookkeeping and get their books up to date, however, their accounta...

EstherG · EstherG

We recently took on a client from a very large competitor. Obviously RTI is new to all of us but I can't understand whether the way this accountancy practice is operating works or not. The client is a limited company where he is the sole director / employee. It seems that in April 2013 the accountancy pr...

Cheshire · Cheshire

Hi A new employee has given one of my customers a P45 from his previous job. The P45 is dated September this year but it says he left in March of this year and was at M11 stage. Should I ignore the P45 and get him to sign a P46 instead (or the new equivalent) and put him on M1/W1 tax?

jasper_accountant · jasper_accountant

Hi everyone I'm trying to get claritifaciton and confirmation regarding benefit in kind rules (ltd company). If the ltd company gives a member of staff a voucher to be used at say Amazon for £100 then that is a taxable benefit in kind or should that be processed through payroll? On the basis that these v...

Corry · Corry

Hi, Apologies if this has already been asked already (I did do a search but nothing came up!) One of my clients has just started taking credit card payments. For payments of over £300, if the customer chooses to pay the invoice with a CC my client is going to pass on the charges he has to pay onto the custome...

Rainoo · Rainoo

Hello there, Having recently transferred accounting system to Sage, I am just about to run my first VAT return for period 01-Jun - 31-Aug. On calculating the VAT return, I am asked if I wish to include unreconciled transactions. As per my recent training I have said "yes" and included th...

Cheshire · Cheshire

Hi One of my new clients uses Sage professional and only registered for VAT once they hit the VAT threshold. Probably worth mentioning at this stage that they are a restaurant so their sales are standard rated whilst a chunk of their purchases is non-vatable (food purchases) , although they obvious...

Cheshire · Cheshire

Hi Folks Ive just started working with a company who use 12Pay. I managed my first payroll/RTI without too many traumas but just wondered if I was supposed to key something on 12PAY once the PAYE for the month has been paid (I do on Moneysoft) and if so how I go about it? Hope someone can help.

mhrosoha · mhrosoha

Hi all, I am a finance manager and we are looking to purchase Intellectual property from another UK company. This intellectual property is not patented. Are there any tax implications from this purchase I need to be aware of? Many Thanks Sohail

Noola · Noola

One of our clients has rang up today and I have promised I will get back to her by the end of today with an answer. One of her employees has been very ill in fact he almost died a few weeks ago and it is likely that this is going to be a long road to recovery. It is also very likely that he will be fit for work again at...

michaelryan7799 · michaelryan7799

I have an employee who has been off sick in August In the same month he had 2 weeks paid holiday booked. Sounds sly from employee but he has given a valid sick note a week before his holiday and a valid sick note straight after his holiday. No sick note for the time he was on holiday It is extremely likely that...

Cheshire · Cheshire

Hello Folks I just started at a new company and have noticed a couple of emails purporting to be from HMRC containing enclosures which are changes to tax codes - ie P6s. I think the email is spam. I seem to recall that HMRC would email you to notify that you had to log on to get the P6s direct from the HMRC we...

Samilou67 · Samilou67

Hi all What nominal code in Sage would you use to record employees NI & PAYE? Thanks Sam

Noola · Noola

Hi could anyone tell me how I process paternity pay in sage payroll and what information I am going to need please? I am unsure as yet if the baby has actually been born and I don't want to ring the Director until I know what I'm asking :/ The Director draws a regular wage from his company.

Topic		Started By	Replies	Views	Last Post
	going from Employed to Director of own company (Preview) A client has been employed up to now and has earned about £23k so far this year and has paid about £7k tax. He is now a director/employee of his own company. what is the ideal amount to pay him? What is the best amount to minimise tax whilst still paying his stamp for his pension? I haven't had this situa...	Princess	6	806	Mon Sep 30 17:26 2013 by Princess
	Car purchased in limited company (Preview) Hi I have a bit of a query (or maybe a whole one) which I think is going to lead to an animated discussion with a client and I just want to make sure that I am correct before I comes to discussing it. The situation is a client, who is the sole director of a limited company has lent the business £10k and the compan...	Marky65	32	2413	Fri Sep 27 22:04 2013 by Marky65
	VAT Cash Accounting (Preview) Hi, I understand that under the cash accounting scheme for VAT you do not pay nor reclaim VAT until you have been paid by debtors or you have paid your creditors. The VAT would still be shown on the BS as a liability but then if the debtors didn't pay you and you didn't pay the creditors would the liability...	Elaine R	1	814	Fri Sep 27 06:09 2013 by MarkS
	Gross up a Director's pay grossing up; NI; tax (Preview) Hello all, Can anyone point me towards where I can learn the procedure for "Grossing Up"? I have a Director who wanted to receive £3000 pay for month 4, and my payroll program came up with a result and calculated the tax and NI applicable, but I want to understand how to do it "longhand&...	AICB	7	1263	Thu Sep 26 16:58 2013 by Tom McClelland
	Child care vouchers (Preview) Hi All. I have a potential client who is asking if child care vouchers can be processed through payroll but then accumulated until they are ready to spend them	Violet2005	6	776	Wed Sep 25 22:21 2013 by Violet2005
	Customs VAT reclaim (Preview) Hello I just started looking after a brand new company who are importing goods from China - I have been given a few ''import invoices'' from their Logistics company. All invoices are addressed to the company i look after who are VAT registered. The invoices all show they are for ''Customs VAT and Cu...	Cheshire	13	11434	Tue Sep 24 23:11 2013 by Cheshire
	VAT Query (Preview) Here's a Tuesday morning puzzler for you all. I have just taken on a new bookkeeping client. They are a new business providing 100% grant funded vocational training courses to help get people back into work. I am about to start their bookkeeping and get their books up to date, however, their accounta...	Sweetman Accounting	2	843	Tue Sep 24 22:03 2013 by Sweetman Accounting
	RTI - what's the simplest way to submit on behalf of ltd co directors? (Preview) We recently took on a client from a very large competitor. Obviously RTI is new to all of us but I can't understand whether the way this accountancy practice is operating works or not. The client is a limited company where he is the sole director / employee. It seems that in April 2013 the accountancy pr...	EstherG	12	1223	Tue Sep 24 19:24 2013 by EstherG
	P45 or P46? (Preview) Hi A new employee has given one of my customers a P45 from his previous job. The P45 is dated September this year but it says he left in March of this year and was at M11 stage. Should I ignore the P45 and get him to sign a P46 instead (or the new equivalent) and put him on M1/W1 tax?	Cheshire	8	1108	Mon Sep 23 22:33 2013 by Cheshire
	Benefits In Kind (Preview) Hi everyone I'm trying to get claritifaciton and confirmation regarding benefit in kind rules (ltd company). If the ltd company gives a member of staff a voucher to be used at say Amazon for £100 then that is a taxable benefit in kind or should that be processed through payroll? On the basis that these v...	jasper_accountant	8	11992	Mon Sep 23 20:43 2013 by RobH
	Credit Card Charges passed on to customer (Preview) Hi, Apologies if this has already been asked already (I did do a search but nothing came up!) One of my clients has just started taking credit card payments. For payments of over £300, if the customer chooses to pay the invoice with a CC my client is going to pass on the charges he has to pay onto the custome...	Corry	2	769	Fri Sep 20 20:23 2013 by jasper_accountant
	First VAT return run on Sage - unreconciled transactions (Preview) Hello there, Having recently transferred accounting system to Sage, I am just about to run my first VAT return for period 01-Jun - 31-Aug. On calculating the VAT return, I am asked if I wish to include unreconciled transactions. As per my recent training I have said "yes" and included th...	Rainoo	17	5518	Fri Sep 20 17:39 2013 by Rainoo
	Help re items to include in VAT return - ''unreconciled'' in Sage/pre Registration items and ongoing FoxAccountancyServices Shamus (Preview) Hi One of my new clients uses Sage professional and only registered for VAT once they hit the VAT threshold. Probably worth mentioning at this stage that they are a restaurant so their sales are standard rated whilst a chunk of their purchases is non-vatable (food purchases) , although they obvious...	Cheshire	5	1847	Fri Sep 20 05:26 2013 by Sharon Eyre
	Help re 12Pay query please (Preview) Hi Folks Ive just started working with a company who use 12Pay. I managed my first payroll/RTI without too many traumas but just wondered if I was supposed to key something on 12PAY once the PAYE for the month has been paid (I do on Moneysoft) and if so how I go about it? Hope someone can help.	Cheshire	4	1019	Thu Sep 19 19:35 2013 by Cheshire
	Is there any Tax on purchasing Intellectual Property (IP) (Preview) Hi all, I am a finance manager and we are looking to purchase Intellectual property from another UK company. This intellectual property is not patented. Are there any tax implications from this purchase I need to be aware of? Many Thanks Sohail	mhrosoha	0	510	Wed Sep 18 18:26 2013 by mhrosoha
	Sick pay being topped up with normal wages - please help! :( (Preview) One of our clients has rang up today and I have promised I will get back to her by the end of today with an answer. One of her employees has been very ill in fact he almost died a few weeks ago and it is likely that this is going to be a long road to recovery. It is also very likely that he will be fit for work again at...	Noola	1	606	Wed Sep 18 18:54 2013 by NickCraggs
	Holiday Pay and SSP (Preview) I have an employee who has been off sick in August In the same month he had 2 weeks paid holiday booked. Sounds sly from employee but he has given a valid sick note a week before his holiday and a valid sick note straight after his holiday. No sick note for the time he was on holiday It is extremely likely that...	michaelryan7799	2	1033	Wed Sep 18 16:38 2013 by Noola
	Email notification of P6 (Preview) Hello Folks I just started at a new company and have noticed a couple of emails purporting to be from HMRC containing enclosures which are changes to tax codes - ie P6s. I think the email is spam. I seem to recall that HMRC would email you to notify that you had to log on to get the P6s direct from the HMRC we...	Cheshire	7	1879	Wed Sep 18 02:32 2013 by Don Tax
	Employee NI (Preview) Hi all What nominal code in Sage would you use to record employees NI & PAYE? Thanks Sam	Samilou67	2	705	Tue Sep 17 17:31 2013 by Samilou67
	Director and paternity pay (Preview) Hi could anyone tell me how I process paternity pay in sage payroll and what information I am going to need please? I am unsure as yet if the baby has actually been born and I don't want to ring the Director until I know what I'm asking :/ The Director draws a regular wage from his company.	Noola	0	641	Mon Sep 16 18:54 2013 by Noola
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