Recent content by Anthony Shepard

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    VAT on selling company car

    Thank you Scalloway. In this case the pool car was purchased from an individual who was not VAT registered. VAT notice 700/64 para 7.2 does specify that where input tax cannot be recovered, e.g. where there is an element of private use, then no output tax is charged on the sale. However, it...
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    VAT on selling company car

    Thanks for your reply. I just stumbled upon this guidence in VAT Notice 700/64 paragraph 7.3: "When you sell a car on which you were not charged VAT when you bought it (perhaps from a private individual or from a dealer who sold it under the VAT second hand margin scheme), you will not need to...
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    VAT on selling company car

    I am a VAT registered sole trader and looking to sell my car which I use soley for the business. My business previously bought the car from an individual seller so there was no VAT charged on the purchase. Will my business have to charge VAT when I sell the car? Does it make any difference if I...
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    VAT on a provision for a bad debt

    Thank you! That guide explains everything.
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    VAT on a provision for a bad debt

    Hi, If I make a provision for a bad debt am I allowed to claim back the VAT or does the debt need to be completely written off before I can reclaim the VAT?
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    Claiming expenses from previous years

    I was referring to the SA100 but how are they treated differently?
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    Claiming expenses from previous years

    Hello. If I had an expense in my 16/17 tax return but I genuinely forgot to include it, am I officially allowed to include it in my 17/18 tax return? Or am I officially supposed to amend my previous tax return? I am guessing most people will just include it in the next year but is there any...
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    Claiming for capital allowances on an old computer

    Hello, I have been self-employed for a few years and I have never included the computer that I now use soley for my business. So I have never claimed any capital allowances on it. I didn't initially purchase it with the business in mind (as it was before I started as self-employed), but now it...
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    VAT on sales outside the EU on the flat rate VAT scheme

    Hello. I am confused as to whether sales outside of the EU are included when calculating the VAT to be paid on the flat rate VAT scheme. I understand that zero rated sales should be included but sales "outside of the scope of VAT" should not be included. The information I have found on whether...
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    Can someone work as self-employed for 1 sole trader business?

    No, she has no other source of income.
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    Can someone work as self-employed for 1 sole trader business?

    Thank you. It is unlikely that my wife's pay will go above the LEL threshold anyway so it makes sense to put her on a payroll.
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    Can someone work as self-employed for 1 sole trader business?

    The business runs IT support. I was intending to pay my wife and potentially also a friend a commission whenever they help to find a customer. I was also thinking that my wife may be able to help with some general admin work. I am not sure yet exactly how much as it may depend on how much sales...
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    Can someone work as self-employed for 1 sole trader business?

    The work is casual and there is no contract in place requiring work to be available. I understand that there are certain factors that are used to determine whether someone is employed or self-employed and I would say it meets the criteria of self-employed such as they can decide what work to...
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    Can someone work as self-employed for 1 sole trader business?

    Hello, If my wife or my friend helped out occasionally in my sole trade business would I be able to pay them as a self-employed contractor even though they do not work for anyone else? Or is there a condition that someone who is self-employed can not only work for 1 business?
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    Does a business receive tax relief when paying for their employees lunches?

    Thank you for your reply. When I followed the links to the HMRC manual EIM21671 it does specify that the meal is allowable under certain conditions if provided on the employer's premises. It appears that the same exemption does apply to light refreshments such as tea and coffee as discussed in...
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