Recent content by Lavender2306

  1. Lavender2306

    Ebay/Amazon business - accountant needed

    Let me have your email address then.
  2. Lavender2306

    Margin Scheme - Import VAT & Disbursements

    Hi Alex, I am sorry to say this, but the added details haven’t changed my view, the services of shipping, packaging and insurance, that it’s cost of insurance of the painting while it is in transit, will be included in valuation for import vat purposes. Without these services the importation...
  3. Lavender2306

    Ebay/Amazon business - accountant needed

    Hi Lottie, If I were your accountant I would say the more detail the better especially if it is in excel. As long as you records your sales, purchases and the rest of the business transactions accurately that information should be useful to an accountant. As you know it is easy to manipulate...
  4. Lavender2306

    VAT - exempt and reclaims

    Hi Lizzie, can I ask you, why do you think supply of minibus services to your students is Vatable? Thank you
  5. Lavender2306

    Margin Scheme - Import VAT & Disbursements

    Hi Alex, My answer is Yes, you do. As far as I understand the scenario: you are the buyer, importing a painting from outside the EU, and the seller, owner of the painting pays for the packaging, transport and insurance? But if you pay disburse him the money for these services then the seller...
  6. Lavender2306

    Stuck on my first vat return

    Hi Paul, Take-away food liability can be SR(standard rated) or ZR(zero rated): hot take-aways - SR; cold take-aways - ZR, with some exceptions. If we assume that you charge 20%, SR, on all your food then: Box 1 value = £4,166.67 Box 4 value = £2,800, assuming that you have valid evidence to...
  7. Lavender2306

    First VAT Return

    Hi MDE200, The bad news is that even if you were charged VAT by your EU supplier you are still required to account for acquisition VAT. This is not something you can choose not to do. You should contact your supplier, provide them with your UK VAT reg number and request to reissue the sales...
  8. Lavender2306

    VAT invoicing for managing advertising

    When you invoice for advertising revenue, of course you are right to write off to P&L any related expenses. In the case when you provide printing services, even as a middleman, to the publisher, I think you can't write off costs without invoicing the publisher who benefits from this printing. As...
  9. Lavender2306

    VAT invoicing for managing advertising

    As I understands, a printing company does the printing and you just pass the printing services on to the publisher. I don't see how this can be classified as management services. This printing is 100% on behalf of the publisher, is not it? We are not talking about the advertising revenue that...
  10. Lavender2306

    Vat on concerts tickets

    Hi Rosario, First of all, the current mandatory VAT registration threshold is £85K. This does not include VAT. If you exceed this threshold within 12months then you will be required to register. So you need to continuously monitor the income you are making. Have a read about the registration on...
  11. Lavender2306

    Template / Tool for Book Keeping for Online Sales

    Hi Umer Saeed, I don't have such a template, but I would suggest to use Excel spreadsheet to record your transactions. All business transactions, including e-commerce, are recorded using double entry bookkeeping. If you like I could create for you a taylored spreadsheet, but I will need you to...
  12. Lavender2306

    VAT invoicing for managing advertising

    Hi PrintedOut, First of all, I would like to say that my suggestions on how the invoicing in your case should be are just general principles, as far as I am aware. I don't know exact details of your agreement with the publishers, and I could not give you detailed advice for that reason. But...
  13. Lavender2306

    VAT invoicing for managing advertising

    Hi Printed Out, Thank you for clarifying the arrangements. Where any advertising has already been booked, the invoicing as suggested in my previous posting stands. Whether the ads are printed in your magazine or they stay in these publications does not change the nature of your business...
  14. Lavender2306

    VAT invoicing for managing advertising

    Hi PrintedOut, If I could ask you to clarify the business transactions you described in your posting, please. When you say you take over the advertising of other publications, do you mean the ads would be published in your magazine? What do you mean by keeping any revenue? Who keeps the revenue...
  15. Lavender2306

    VAT on sales to EU

    Hi V.korn, Let me know if I get this right: your company is exporting from China, but the import will be done by your German customer? If this is the case then you will not be required to register for VAT in Germany. Your customer will incur the import VAT and will be able to recover it if it...
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