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

Shamus · Shamus

http://www.book-keepers.org.uk/t62264820/site-ethics/

BGreg · BGreg

Good evening, Im helping a new business whos sales are all VAT Exempt, therefore they cannot register for VAT (I think?) - my question is, how should I be recording their purchase invoices (in xero) should they all be entered as no VAT as none will ever be reclaimed, or should they be entered with the VAT...

Leger · Leger

Got an electrician chappy on my books who uses a car exclusively for work, a ford ranger bought new 5 years ago. In this set of accounts I have an invoice for LED headlights and tail lights which come to the best part of £800. I can't make up my mind whether this is just to make the car a bit more "posh" if that...

Oly · Oly

Hiya I've always found our accounting 'year' confusing. An accountant set it up decades ago to run from 1 May to 30 April. It means we're always a year or two behind, I'm sure you know what I mean? I wondered if I could move the 'year' forwards 3 months, a quarter, at a time. So after three years of 15 month...

Mark99 · Mark99

Hi Everyone I look after a few road freight businesses and I have a question about congestion charges incurred by truck and van drivers. These are generally VAT exempt. However, in passing on the costs to the customers, I think a VAT registered driver ought to include VAT on whatever he or she has pai...

Hamilton61 · Hamilton61

Hi I've just taken on a pub as a new client and they have given me daily Z reports. (I haven't done bookkeeping for a pub before). The reports give me a breakdown of Draft, Bottles, Spirits etc (and food) as gross sales. There is then a breakdown of cash and credit card takings which the report shows as n...

Alex Davidov · Alex Davidov

Good afternoon. My question is how to account for the difference between the standard VAT rate and the amount which pay to HMRC using a 9% flat rate? I suppose I need to increase the taxable income with the difference. And for the expenses - can I enter the gross amount using No VAT? So, for example, if I ha...

LouiseR · LouiseR

Hello We are an Apprenticeship Training Provider which is 99% funded by the ESFA. We are being absolutely hammered by VAT that we cannot recover because the supplies to learners we are making (we arent charging them, we are just delivering our ESFA (Government) contract, are outside scope. I have to...

AMajor · AMajor

Hi everyone, I'm hoping those with Sage knowledge can assist here. My client has imported some goods from Vietnam. She has signed up for a Duty Deferment Account with HMRC and we have the first statement. I can find only information on Sage that mentions Postponed VAT accounting so not sure I am lookin...

getting_it_right · getting_it_right

Help!! I've been looking at how business mileage claims have been posted for a VAT registered company, and came across some notes which suggested we should be calculating the "Approved Amount" claimable, and when posting separating out the VAT element of the expense. So posting 2 lines for each tra...

Queenie · Queenie

Hi I wondered if anyone could help. Ive just had the annual audit and they raised an issue as Id put vat on a customer invoice for a grant. our local council had said it should have VAT on. Apparently we was misinformed. is it not their responsibility to tell me correctly or was it my responsibility to che...

Kinbuck · Kinbuck

Hi EveryoneI de-registered a (troublesome) client for Vat at 31/3/20 as he stopped the catering part of his business and was only providing chef services. Due to Covid he had to go back to catering after 6 months and has only just told me when handing the records over. To be honest, I didn't expect to s...

Artois · Artois

Hi all New client has a Ltd Co ''owning' two properties which they have asked me to do the accounts for, they done last years accounts themselves and the properties have been included on the balance sheet but there were no profits on rental, on taking over the accounts and looking into this further it t...

Leger · Leger

Just doing a 20-21 tax return and realised I didn't depreciate a vehicle on the 19-20 return. Should I amend the tax return to match? Obviously there is no tax loss/gain in doing so. Secondly, is claiming capex if profit is below tax threshold voluntary for the same year. This year he's (just) over t...

mgarfin · mgarfin

We receved our C79 for April. It has an import record we don't know about. How can we get more info, before we dismiss it as an error?

johnhemming · johnhemming

It sort of half news as they were talking about this earlier this year. Taxpayers with a turnover in excess of 10K will have to use MTD software for that tax year and later. VAT registered businesses under the compulsory threshold will become compulsory in FY 2022 This is the relevant ministerial...

ClareAB · ClareAB

Hi all Please can you help!? I am just starting up as a bookkeeper and have been asked by a customer if I can do his self assessment. Do I need any qualifications to do this? I have AAT Level 2 currently. Thanks Clare

AMajor · AMajor

Hi there, It's a long time since I posted on here so hoping you'll be able to help We are having a discussion regarding various invoices where digital services are supplied and would like to know about the vat treatment of them. These are for companies like Adobe, Apple, Microsoft, Dropbox where they a...

GillyP · GillyP

Hi all Apologies if this has been already posted (I did try searching, but didnt find anything), but I am wondering if the VAT reverse charge should be applied to invoices for materials only, raised by a CIS subcontractor? The VAT Reverse charge is applied to sales invoices where a subcontractor is b...

daxkandoi · daxkandoi

Hi, I am using VT Software for VAT Return submission. I alrelady paid subscription for VT Software licence, now when i am going submit VAT Return, Its showing following message, VT MTD for Agents requires a subscription for VT Accounts. Free evalution period has expired. Do u want purchase a lice...

Topic		Started By	Replies	Views	Last Post
	STICKY: Before Posting (closed) (Preview) http://www.book-keepers.org.uk/t62264820/site-ethics/	Shamus	0	5074	Sat Jun 11 15:08 2016 by Shamus
	VAT Exempt Business Purchase Invoice Recording (Preview) Good evening, Im helping a new business whos sales are all VAT Exempt, therefore they cannot register for VAT (I think?) - my question is, how should I be recording their purchase invoices (in xero) should they all be entered as no VAT as none will ever be reclaimed, or should they be entered with the VAT...	BGreg	1	310	Sat Oct 2 08:10 2021 by Artois
	Motor Expense - Allow or disallow? (Preview) Got an electrician chappy on my books who uses a car exclusively for work, a ford ranger bought new 5 years ago. In this set of accounts I have an invoice for LED headlights and tail lights which come to the best part of £800. I can't make up my mind whether this is just to make the car a bit more "posh" if that...	Leger	4	346	Sun Sep 26 15:55 2021 by Leger
	Moving accounting year forward a quarter at at time (Preview) Hiya I've always found our accounting 'year' confusing. An accountant set it up decades ago to run from 1 May to 30 April. It means we're always a year or two behind, I'm sure you know what I mean? I wondered if I could move the 'year' forwards 3 months, a quarter, at a time. So after three years of 15 month...	Oly	6	563	Mon Sep 20 14:54 2021 by Shamus
	VAT treatment of congestion or emission zone charges (Preview) Hi Everyone I look after a few road freight businesses and I have a question about congestion charges incurred by truck and van drivers. These are generally VAT exempt. However, in passing on the costs to the customers, I think a VAT registered driver ought to include VAT on whatever he or she has pai...	Mark99	2	327	Fri Aug 27 10:00 2021 by Artois
	Pub Z report (Preview) Hi I've just taken on a pub as a new client and they have given me daily Z reports. (I haven't done bookkeeping for a pub before). The reports give me a breakdown of Draft, Bottles, Spirits etc (and food) as gross sales. There is then a breakdown of cash and credit card takings which the report shows as n...	Hamilton61	2	372	Mon Aug 23 16:07 2021 by HelenF02
	Flat rate VAT (Preview) Good afternoon. My question is how to account for the difference between the standard VAT rate and the amount which pay to HMRC using a 9% flat rate? I suppose I need to increase the taxable income with the difference. And for the expenses - can I enter the gross amount using No VAT? So, for example, if I ha...	Alex Davidov	9	606	Fri Aug 20 14:08 2021 by Leger
	VAT recovery for FE Training Providers (Preview) Hello We are an Apprenticeship Training Provider which is 99% funded by the ESFA. We are being absolutely hammered by VAT that we cannot recover because the supplies to learners we are making (we arent charging them, we are just delivering our ESFA (Government) contract, are outside scope. I have to...	LouiseR	2	315	Tue Aug 3 18:18 2021 by Taxagent
	Duty Deferment for import VAT on Sage vat Brexit sage import vat (Preview) Hi everyone, I'm hoping those with Sage knowledge can assist here. My client has imported some goods from Vietnam. She has signed up for a Duty Deferment Account with HMRC and we have the first statement. I can find only information on Sage that mentions Postponed VAT accounting so not sure I am lookin...	AMajor	0	290	Sun Jul 25 17:12 2021 by AMajor
	Posting Business Mileage Claims for a VAT registered company (Preview) Help!! I've been looking at how business mileage claims have been posted for a VAT registered company, and came across some notes which suggested we should be calculating the "Approved Amount" claimable, and when posting separating out the VAT element of the expense. So posting 2 lines for each tra...	getting_it_right	2	452	Wed Jul 7 14:11 2021 by getting_it_right
	Vat on grant (Preview) Hi I wondered if anyone could help. Ive just had the annual audit and they raised an issue as Id put vat on a customer invoice for a grant. our local council had said it should have VAT on. Apparently we was misinformed. is it not their responsibility to tell me correctly or was it my responsibility to che...	Queenie	10	667	Tue Jul 6 11:07 2021 by Leger
	Re-registering for Vat (Preview) Hi EveryoneI de-registered a (troublesome) client for Vat at 31/3/20 as he stopped the catering part of his business and was only providing chef services. Due to Covid he had to go back to catering after 6 months and has only just told me when handing the records over. To be honest, I didn't expect to s...	Kinbuck	5	565	Sat Jun 26 15:24 2021 by Leger
	Balance Sheet incorrect (Preview) Hi all New client has a Ltd Co ''owning' two properties which they have asked me to do the accounts for, they done last years accounts themselves and the properties have been included on the balance sheet but there were no profits on rental, on taking over the accounts and looking into this further it t...	Artois	7	810	Thu Jun 24 16:58 2021 by BudgetB
	Do I need to amend tax return (Preview) Just doing a 20-21 tax return and realised I didn't depreciate a vehicle on the 19-20 return. Should I amend the tax return to match? Obviously there is no tax loss/gain in doing so. Secondly, is claiming capex if profit is below tax threshold voluntary for the same year. This year he's (just) over t...	Leger	2	357	Thu Jun 24 09:59 2021 by Leger
	C79 Reconciliation - C79 with unknown import (Preview) We receved our C79 for April. It has an import record we don't know about. How can we get more info, before we dismiss it as an error?	mgarfin	0	431	Tue May 25 16:32 2021 by mgarfin
	MTD ITSA announced for 2023-24 (Preview) It sort of half news as they were talking about this earlier this year. Taxpayers with a turnover in excess of 10K will have to use MTD software for that tax year and later. VAT registered businesses under the compulsory threshold will become compulsory in FY 2022 This is the relevant ministerial...	johnhemming	24	2793	Fri May 21 17:40 2021 by johnhemming
	Self Assessment (Preview) Hi all Please can you help!? I am just starting up as a bookkeeper and have been asked by a customer if I can do his self assessment. Do I need any qualifications to do this? I have AAT Level 2 currently. Thanks Clare	ClareAB	17	791	Thu May 13 10:34 2021 by Sun
	VAT reverse charge on digital supplies from Dublin vat reverse charge brexit (Preview) Hi there, It's a long time since I posted on here so hoping you'll be able to help We are having a discussion regarding various invoices where digital services are supplied and would like to know about the vat treatment of them. These are for companies like Adobe, Apple, Microsoft, Dropbox where they a...	AMajor	1	464	Thu May 13 10:32 2021 by Sun
	CIS/VAT Reverse Charge on materials (Preview) Hi all Apologies if this has been already posted (I did try searching, but didnt find anything), but I am wondering if the VAT reverse charge should be applied to invoices for materials only, raised by a CIS subcontractor? The VAT Reverse charge is applied to sales invoices where a subcontractor is b...	GillyP	4	601	Wed May 12 11:34 2021 by BudgetB
	VAT rerutn submit from VT Software with MTD issue (Preview) Hi, I am using VT Software for VAT Return submission. I alrelady paid subscription for VT Software licence, now when i am going submit VAT Return, Its showing following message, VT MTD for Agents requires a subscription for VT Accounts. Free evalution period has expired. Do u want purchase a lice...	daxkandoi	1	524	Sat May 8 22:10 2021 by Shamus
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