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

Peasie · Peasie

What National Insurance changes are going to still be implemented as a result of Labour's budgets? The rates for this year are : Table A - Employee 11%, Employer 12.8% Table D (contracted out) - Employee 9.4%, Employer 9.1% What are these rates going to change to from April 2011? I know there was a 1% inc...

BannanaMan · BannanaMan

Hi Just what I didn't want on a Friday morning. I've just been stumped by a clients question. They bought into a limited company and they had to take out a personal loan to fund the purchase of the shares. I'm just completing their personal tax return and they have asked if they can claim tax relief on the...

Stardoe · Stardoe

Hi guys, One of my clients has a customer that pays in advance for the work he has done. He pays on the first of the month by standing order. Am I right in requesting that the customer changes his standing order for 1st January to include the 20% VAT, even though the rate doesn't actually change until 4th...

Noola · Noola

I have an invoice for the purchase of a new vehicle which was £4425.53 plus VAT £774.47 so the total amount was £5200. There was also a buyers fee for £292.77 plus VAT £51.23 so the total amount was £344.00 A new keeper transfer fee for 21.28 plus VAT £3.72 so the total was £25.00 A deposit handling fee for...

RossDunn · RossDunn

I have a client who has just refurbished a one bedroom annex attached to their house. They have asked me if they could use the Rent a Room Relief against any income received each year. This seems fine as they live in the property, but just wanted to check as the annex has a seperate entrance to the house...

chrisp · chrisp

I have a friend who is due a refund of VAT for his last quarter but has recently changed his business bank account from NatWest to Lloyds. If you have online VAT with HMRC is there the facility to change the company bank details online? If not, who or where should my friend contact at HMRC to change thei...

Julie Hall · Julie Hall

Hi there, few queries. I look after the accounts for a retail shop i.e. I presume I can claim the VAT back straight away on any refunds or bounced credit card payments due the the immediate cash/payment nature of the business, as I know that you would normally have to wait 6 months re VAT if on standard a...

Gav · Gav

Hi, Sorry if this is a simple question, but i'm struggling to understand the exact definition of net rent. Say I received rents from a client of £10,000 and deducted expenses of say insurance, repairs, solicitors etc of £5,000. would my net rent therefore be £5,000. But, what if I invested £2000 that y...

Peasie · Peasie

I've been asked to do a self assessment return for someone that is in the CIS scheme. I've never understood how these people are not employees, but that's besides the point. What I want to know is this - this return is for the year ending 5th April 2010. My invoice to him will be raised in December 2010 - but...

Julie Hall · Julie Hall

Hi there, I have a client who has registered their VAT with ebay so not charged vat on their invoice for luxembourg any ideas what sage code to use, i.e T8 for T24 as it is not really goods that have been provided but a service. Thanks

Beachbreak · Beachbreak

I have a client who is a sole trader and has bought a van and a motorbike for his business. He doesn't use them for personal use, he has his own car for that. Am I right in thinking that the van can be claimed 100% as a capital allowance as part of AIA as it's commercial but the motorbike is treated as a car so WD...

KEELY · KEELY

I am doing the accounts for a company who has just part exchanged their vehicle for a new vehicle there is vat on the new vehicle which if i am right in saying can be recoverd in full and then no vat reclaimable on the monthly repayments. However as the part exhcange is a sale of an asset is vat payable by the...

Nicola27 · Nicola27

So nobody has ever explained what to do regarding VAT payments on sage to me. I am guessing that for the Quarter i would journal what I have in Purchase Tax and Sales Tax and post that to VAT liability and then post the cheque payment to HMRC to VAT liability also? Am i correct If not.....help!

RossDunn · RossDunn

Happy Sunday. I complete several monthly payrolls for my clients, but was asked on friday to set-up a new paye scheme for an existing client who wants to employ their first member staff. I think there is an incentive to set-up new paye scheme's at present and remember reading something a few months bac...

Julie Hall · Julie Hall

Hi there, I look after a retail company and they purchase some vatable goods from Brussels and they have also supplied their VAT number, so I know I use tax code T8 on sage, but in the set up box for T8 I know it needs to be linked to 17.5% but under the T8 code in the box should I also input the VAT rate of 17.5% o...

Stardoe · Stardoe

Evening everyone! I have a tricky one. One of my clients purchased some goods from a company in Dublin and paid for it by credit card. When I came across the invoice to post, it had the Irish 21% VAT included. I was pretty certain that this should have been zero rated and when I telephoned them they adm...

Noola · Noola

Can you claim VAT back on this? It has a VAT number on the receipt.

Sophie · Sophie

Hello! In the Self assessment for 2008-2009 I have not claimed any expenses because my incomes were low. With the personal allowance I had to pay only 39 GBP in taxes. However, may I include these expenses, incl. laptop, in my Self assessment for 2009-2010 and where? I am filing online. Thank you.

Brent · Brent

Guys, can someone offer me some advice. When it comes to working out benefit in kind on an employee, where an emloyer pays slightly less than the cost it would be to the employee. Is there some set principle to working out the value of the benefit in kind ? I appreciate any advice.

AICB · AICB

Can anyone steer me in the right direction please? I'm going round in endless circles and can't see the way out. I want to post Sub-contractor invoices into Sage 50 so that individual remittances can later be recorded. (Earlier, these invoices had been processed separately using 12Pay. This rec...

Topic		Started By	Replies	Views	Last Post
	National Insurance from April 2011 (Preview) What National Insurance changes are going to still be implemented as a result of Labour's budgets? The rates for this year are : Table A - Employee 11%, Employer 12.8% Table D (contracted out) - Employee 9.4%, Employer 9.1% What are these rates going to change to from April 2011? I know there was a 1% inc...	Peasie	19	17021	Sat Dec 11 00:12 2010 by Peasie
	Is interest on a loan allowable? (Preview) Hi Just what I didn't want on a Friday morning. I've just been stumped by a clients question. They bought into a limited company and they had to take out a personal loan to fund the purchase of the shares. I'm just completing their personal tax return and they have asked if they can claim tax relief on the...	BannanaMan	2	1580	Fri Dec 10 10:18 2010 by BannanaMan
	Advance payment - VAT rate change (Preview) Hi guys, One of my clients has a customer that pays in advance for the work he has done. He pays on the first of the month by standing order. Am I right in requesting that the customer changes his standing order for 1st January to include the 20% VAT, even though the rate doesn't actually change until 4th...	Stardoe	4	2321	Thu Dec 9 21:39 2010 by Stardoe
	VAT on new vehicle and services part paid cheque and card!!! Help (Preview) I have an invoice for the purchase of a new vehicle which was £4425.53 plus VAT £774.47 so the total amount was £5200. There was also a buyers fee for £292.77 plus VAT £51.23 so the total amount was £344.00 A new keeper transfer fee for 21.28 plus VAT £3.72 so the total was £25.00 A deposit handling fee for...	Noola	1	1173	Thu Dec 9 19:59 2010 by semsley
	Rent a Room or a Trade Income? (Preview) I have a client who has just refurbished a one bedroom annex attached to their house. They have asked me if they could use the Rent a Room Relief against any income received each year. This seems fine as they live in the property, but just wanted to check as the annex has a seperate entrance to the house...	RossDunn	1	1321	Wed Dec 8 16:58 2010 by Stuartbham
	Quick Question - VAT refund due - need to change bank account details (Preview) I have a friend who is due a refund of VAT for his last quarter but has recently changed his business bank account from NatWest to Lloyds. If you have online VAT with HMRC is there the facility to change the company bank details online? If not, who or where should my friend contact at HMRC to change thei...	chrisp	3	5899	Wed Dec 8 16:11 2010 by BackOfficeGroup
	Bad debt VAT relief on Retail Shop (Preview) Hi there, few queries. I look after the accounts for a retail shop i.e. I presume I can claim the VAT back straight away on any refunds or bounced credit card payments due the the immediate cash/payment nature of the business, as I know that you would normally have to wait 6 months re VAT if on standard a...	Julie Hall	3	1291	Wed Dec 8 16:09 2010 by BackOfficeGroup
	Definition of Net Rent? (Preview) Hi, Sorry if this is a simple question, but i'm struggling to understand the exact definition of net rent. Say I received rents from a client of £10,000 and deducted expenses of say insurance, repairs, solicitors etc of £5,000. would my net rent therefore be £5,000. But, what if I invested £2000 that y...	Gav	3	7256	Wed Dec 8 10:47 2010 by RobH
	CIS Self assessment return (Preview) I've been asked to do a self assessment return for someone that is in the CIS scheme. I've never understood how these people are not employees, but that's besides the point. What I want to know is this - this return is for the year ending 5th April 2010. My invoice to him will be raised in December 2010 - but...	Peasie	7	2897	Wed Dec 8 07:20 2010 by Jen81
	Sage VAT code re ebay fees (Preview) Hi there, I have a client who has registered their VAT with ebay so not charged vat on their invoice for luxembourg any ideas what sage code to use, i.e T8 for T24 as it is not really goods that have been provided but a service. Thanks	Julie Hall	5	5420	Wed Dec 8 02:54 2010 by Quentin Pain
	Advice needed on Capital Allowances claims for Vans and Motorbikes (Preview) I have a client who is a sole trader and has bought a van and a motorbike for his business. He doesn't use them for personal use, he has his own car for that. Am I right in thinking that the van can be claimed 100% as a capital allowance as part of AIA as it's commercial but the motorbike is treated as a car so WD...	Beachbreak	8	9202	Tue Dec 7 19:40 2010 by Beachbreak
	VAT ON SALE OF VEHICLE (Preview) I am doing the accounts for a company who has just part exchanged their vehicle for a new vehicle there is vat on the new vehicle which if i am right in saying can be recoverd in full and then no vat reclaimable on the monthly repayments. However as the part exhcange is a sale of an asset is vat payable by the...	KEELY	5	9067	Tue Dec 7 13:58 2010 by RobH
	New to VAT (Preview) So nobody has ever explained what to do regarding VAT payments on sage to me. I am guessing that for the Quarter i would journal what I have in Purchase Tax and Sales Tax and post that to VAT liability and then post the cheque payment to HMRC to VAT liability also? Am i correct If not.....help!	Nicola27	3	1444	Mon Dec 6 16:22 2010 by Nicola27
	New employer - NI Savings (Preview) Happy Sunday. I complete several monthly payrolls for my clients, but was asked on friday to set-up a new paye scheme for an existing client who wants to employ their first member staff. I think there is an incentive to set-up new paye scheme's at present and remember reading something a few months bac...	RossDunn	2	1417	Mon Dec 6 15:02 2010 by RossDunn
	Sage Tax Code T8 Help (Preview) Hi there, I look after a retail company and they purchase some vatable goods from Brussels and they have also supplied their VAT number, so I know I use tax code T8 on sage, but in the set up box for T8 I know it needs to be linked to 17.5% but under the T8 code in the box should I also input the VAT rate of 17.5% o...	Julie Hall	4	9063	Sat Dec 4 21:51 2010 by Julie Hall
	VAT on invoice from Dublin (Preview) Evening everyone! I have a tricky one. One of my clients purchased some goods from a company in Dublin and paid for it by credit card. When I came across the invoice to post, it had the Irish 21% VAT included. I was pretty certain that this should have been zero rated and when I telephoned them they adm...	Stardoe	7	8233	Fri Dec 3 18:13 2010 by Stardoe
	Motor Spares and VAT (Preview) Can you claim VAT back on this? It has a VAT number on the receipt.	Noola	1	1160	Fri Dec 3 13:02 2010 by ethem
	Expenses from 2008-2009 carried forward in 2009-2010? (Preview) Hello! In the Self assessment for 2008-2009 I have not claimed any expenses because my incomes were low. With the personal allowance I had to pay only 39 GBP in taxes. However, may I include these expenses, incl. laptop, in my Self assessment for 2009-2010 and where? I am filing online. Thank you.	Sophie	3	1333	Tue Nov 30 17:55 2010 by Stardoe
	Benefit In Kind (Preview) Guys, can someone offer me some advice. When it comes to working out benefit in kind on an employee, where an emloyer pays slightly less than the cost it would be to the employee. Is there some set principle to working out the value of the benefit in kind ? I appreciate any advice.	Brent	2	1438	Mon Nov 29 15:10 2010 by moxby
	Help! Entering sub-contractor (CIS) invoices into Sage 50 (Preview) Can anyone steer me in the right direction please? I'm going round in endless circles and can't see the way out. I want to post Sub-contractor invoices into Sage 50 so that individual remittances can later be recorded. (Earlier, these invoices had been processed separately using 12Pay. This rec...	AICB	6	11808	Sat Nov 27 00:21 2010 by AICB
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