Recent content by mjkelly

  1. M

    Opening a Shop - Free Business Rates For A Year?

    Okay thankyou I will.
  2. M

    Opening a Shop - Free Business Rates For A Year?

    Hello, I forgot to mention we are based in Preston, Lancashire. Thanks
  3. M

    Opening a Shop - Free Business Rates For A Year?

    Hello, I was interested in opening a shop and I was told by someone that if you are a new business you would not have to pay business rates for the 1st year. I do not believe this to be true as I have not seen any information regarding this. However please could someone confirm this. I tried to...
  4. M

    Customer asked for vat invoice. Do i show 20% or my flat rate scheme percentage?

    Thankyou
  5. M

    Customer asked for vat invoice. Do i show 20% or my flat rate scheme percentage?

    So if the item I sell is £10 inclusive of VAT. Would I would show £10 + £2 VAT or would i show £8 + £2 VAT? On the invoice. Sorry I am still not clear. Thanks
  6. M

    Customer asked for vat invoice. Do i show 20% or my flat rate scheme percentage?

    Hi, I am registered on the flat rate scheme with my category percentage ie 8% for VAT and a customer has asked me for a vat invoice. When they purchased the item the VAT is inclusive in my price. This is my first invoice which has been requested while been on this scheme and i am not sure...
  7. M

    Is coffee, tea bags, milk, sugar an allowable office business expense?

    Hi, thanks for your replies. I am a limited company. I was just wondered if i could claim for the coffee, tea bags etc which i drink? I forgot to mention I work from home.
  8. M

    Is coffee, tea bags, milk, sugar an allowable office business expense?

    Hi, am I allowed to claim coffee, tea bags, milk and sugar as an office business expense? Thankyou
  9. M

    XERO spend money expense which then got refunded. How do i handle this receive money transaction?

    Ok thanks.
  10. M

    XERO spend money expense which then got refunded. How do i handle this receive money transaction?

    Hi, yes this is what I thought. However I am not sure how to reconcile this? How do i handle this in XERO accounting software?
  11. M

    XERO spend money expense which then got refunded. How do i handle this receive money transaction?

    Hi, I purchased a plug adapter for my office which came out of my business account so I recorded this expense as a spend money transaction in XERO. However the adapter never turned up so I filed a claim with amazon and got my money back which they paid back into my business account. I am not...
  12. M

    Stock Purchase Asset or Expense in XERO? and Pre Trade Startup Expenses

    Thankyou
  13. M

    Stock Purchase Asset or Expense in XERO? and Pre Trade Startup Expenses

    Hi, my plan in XERO was to create a bill to myself for the stock I purchased before startup. I was then going to transfer this money from my business account to my personal account and then when it showed up in XERO in my business account I would reconcile it. But I would not be able to...
  14. M

    Stock Purchase Asset or Expense in XERO? and Pre Trade Startup Expenses

    Hi, thankyou for your quick reply. Regarding question 2 is it better to put it as capital introduced rather than as a direct expense? Thankyou
  15. M

    Stock Purchase Asset or Expense in XERO? and Pre Trade Startup Expenses

    Hi, I am sole trader. 1. Any orders I have made for stock purchases for items I sell I have entered as direct expenses in XERO but I wondered whether I should have entered these as Assets? 2. My second question is, I have stock which was purchased before I registered as a sole trader. Can I...
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