Recent content by Bumbling Amateur

  1. Bumbling Amateur

    Accounting for refund of withholding tax?

    A balance sheet asset account was not created so I'll credit the income received to turnover. I don't suppose any recovery of taxes is possible in this case. Thanks for very clear advice.
  2. Bumbling Amateur

    Accounting for refund of withholding tax?

    the amount was debited to an expenses account
  3. Bumbling Amateur

    Accounting for refund of withholding tax?

    My company was paid for work in Taiwan minus 20% withholding tax in 2020. In 2022 following my retrospective application for a reduction in withholding tax the amount was revised to 3% and my company was given a refund. How should I account for this?
  4. Bumbling Amateur

    Investment accounts for limited companies

    Thank you. Do you know if ii allow shorting of shares?
  5. Bumbling Amateur

    Investment accounts for limited companies

    Can anyone recommend a company that offers accounts to limited companies for investing in funds and shares? My company has some money sitting around which I'd like to gamble on the stock market but there doesn't seem many options out there. I already use Hargreaves Lansdown for investing my...
  6. Bumbling Amateur

    Accounts and CT return query on gov.uk - other income and pension contribution

    where's the fun in that?
  7. Bumbling Amateur

    Accounts and CT return query on gov.uk - other income and pension contribution

    I'm filing my accounts and CT return on the gov.uk website and struggling with a couple of issues with the accounts. Obviously I've prepared my accounts and should be just transferring the information to the website but there are couple of things I don't understand. Let's say my turnover from...
  8. Bumbling Amateur

    VAT when travelling overseas

    If I had an accountant I wouldn't be on here asking for advice! I'm confused by your reply, and not really sure you understood my question. My fault probably.
  9. Bumbling Amateur

    VAT when travelling overseas

    He's going overseas to provide technical consultancy to a company in the Middle East. I must say having read the documents referenced above I agree with you. Thank you for your time.
  10. Bumbling Amateur

    VAT when travelling overseas

    I have now (and also the VAT Notice 700 for good measure). I can now say with some confidence that whilst my company belongs in the UK its place of supply in this instance is outside the UK and therefore outside the scope of VAT. So for these reasons I'll not be charging VAT on my invoice for...
  11. Bumbling Amateur

    VAT when travelling overseas

    If my VAT registered business sends a contractor overseas it will charge a day rate during his time overseas which is exempt from VAT (beyond the scope of VAT). What about the days the contractor travels overseas and returns from overseas? I'm guessing the day of travel is VAT exempt because he...
  12. Bumbling Amateur

    Foreign currency transactions and HMRC online filing

    why?
  13. Bumbling Amateur

    Foreign currency transactions and HMRC online filing

    I've done some reading on the HMRC website and I think I'm confusing myself. I thought the need to report foreign currency transactions would exclude me from using the HMRC Corporation Tax online filing system however I don't actually need to report foreign currency transactions because I have...
  14. Bumbling Amateur

    Foreign currency transactions and HMRC online filing

    I convert all foreign currency transactions to sterling (on the transaction date or settlement date).
  15. Bumbling Amateur

    Basic PAYE Tools - a strange program

    I experience the same long start up time but formatting is fine.
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