Recent content by Daybooks

  1. Daybooks

    Need help with some basic Finance and VAT reclaim questions.

    The choice of whether to VAT register when not compulsory is really one of doing the maths. Does the loss of income from domestic customers as a result of being VAT registered outweigh the loss of recoverable VAT on your purchases by not being registered? The economics of pricing, supply and...
  2. Daybooks

    Making Tax Digital without an accountant or bookkeeper?

    Microsoft Excel is more than just a spreadsheet with its rich programming language Visual Basics for Applications. A user’s limitation is their imagination nobody else’s. Thus when you wish your online solution would do something… Excel the gift that keeps on giving.
  3. Daybooks

    Making Tax Digital without an accountant or bookkeeper?

    Jo Hamilton said similar of her use of Horizon.
  4. Daybooks

    Making Tax Digital without an accountant or bookkeeper?

    You can be sure. It does not.
  5. Daybooks

    Selling a company with two years of negative EBITDA — valuation methods and risks of going solo

    In your hypothetical sale you might want to consider that however the hypothetical seller or hypothetical buyer determine their hypothetical price at the end of the day you need a willing buyer and a willing seller, otherwise it will not happen. Hypothetically of course; perhaps! In other words...
  6. Daybooks

    'Can I just...' is killing me!

    That is an hour a week saved for you and possibly a convenient task for a bookkeeper. Sometimes it is best you only do what only you can do.
  7. Daybooks

    Tax Calc for charities

    Keep things super simple. You probably want a standard chart of accounts structure encompassing a nominal name, project code and possibly another, say, organisation code for flexibility. Each has their own table which is used as to populate a drop-down list when entering transactions. The...
  8. Daybooks

    Tax Calc for charities

    Spreadsheets are only dependent upon their authors when they are badly written and/or require continual updates. Best to avoid if you can. This usually comes about when you try and make a spreadsheet specific for a purpose, losing sight of the objective. A Receipts and Payments Account is a...
  9. Daybooks

    Tax Calc for charities

    If you are currently using CC16A from the Charity Commission to produce your final account in that format then it implies you are producing a Receipts and Payments Account with a Statement of Assets and Liabilities. This is important because if your charity remains eligible to use this...
  10. Daybooks

    Simple accounting software for dumies

    Not to mention the time you save, the ease of use, the low cost and the great information you get from it. It is not a secret but as they say ‘you can only lead a horse to water.’
  11. Daybooks

    Traditional accounts vs cash basis for sole trader

    As @MyAccountantOnline says yes you can. You’ll need separate SA103 pages for them. You can flip between years with the proviso that income can only be charged once and expenditure relieved once. Thus for example if you have an unpaid sales invoice one year included under the accruals method...
  12. Daybooks

    Companies House Fee increase - scandalous!

    They need the money to pay for a new system and architecture to pay for the cost of the Economic Crime and Corporate Transparency Act. However that urgent need to make micro and small companies file their profit and loss account obviously isn’t so urgent as its planned April 2027 implementation...
  13. Daybooks

    Can I buy a product to test it – & claim as business expense?

    Generally yes provided there is a valid business intention.
  14. Daybooks

    very worried about January deadlne for tax return

    There is no Self Employed Register for you to enrol onto. An obligation to “notify” HMRC arises from section 7 of the Taxes Management Act 1970, which requires anyone who becomes chargeable to income tax or capital gains tax, and who has not been issued with a notice to file a tax return, to...
  15. Daybooks

    Customer wants us to refund £27k vat

    Thank you for the update. It would be useful if you could share the conflicting advice without revealing sources or breaking confidentiality. It would no doubt spark a further debate. I trust the decision is for commercial reasons and thus for the charity this is just a consequence. I wonder...
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