Recent content by Naduk

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    Self assessment short taxable profits and offsets

    Hi, I had a feeling that may have been the case but just wanted to double check first. Many thanks for your input.
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    Self assessment short taxable profits and offsets

    Hi, I was just reading around about offsetting losses against profits but had a query in regards to the actual self assessment short form. In regards to boxes 28(net business profit) and 29(loss brought forwards to offset again profit), if the profit is less that the tax threshold/personal...
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    Transaction fees and Vat returns

    Hi, That's great. Many thanks for your help.
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    Transaction fees and Vat returns

    Hi, We currently have some of our payments processed through paypal. In regards to the VAT return (I know that fee's don't have VAT on them), am I adding the amount I billed as a total input, or what I in fact received and the fee elsewhere? £175 + VAT billed (£210) Received £202.66 including...
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    Vat returns, box 7 and fuel

    Hi, just been flicking through my first vat return and had a quick question about fuel. If you have vehicles on the mileage scheme (hence not claming the vat on fuel purchases) does that fuel purchase cost excl vat get added anywhere into the Vat return or is it left out completely? Thanks
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    Sole trader van purchasing

    Hi, Nothing that would fall outside of what hmrc say, drive to work, few tip runs, moving house etc. The issue I saw that if doing it mileage based then I exceed the VAT threshold, I presume I would need to swap over?
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    Sole trader van purchasing

    Hi, I've had a good read around of a few threads on here but still not 100% on the best route to take. I am looking at purchasing a van for work, currently the funds would be coming from elsewhere, rather than directly from the business but it would be an all out purchase. Obviously, if a van...
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    Accounts, inventory, ecommerce and paperless intergration?

    Hi, This seems to bridge a few areas so not sure which is the appropriate forum, please move if needed. I'm currently looking at moving from Excel based accounts to a more intergrated solution to save double inputing data etc. I'm looking at expanding into ecommerce and would like something...
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    Purchasing from non-VAT registered company

    Hi, thats fine, was just making sure I wasn't going mad! Just seemed like the HMRC are getting a lot of tax out of this! Thanks again
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    Purchasing from non-VAT registered company

    I did not say they were charging VAT per se, but if they are buying stock in at £8+£2VAT, they are the first person paying the VAT but cannot claim it back. They then sell it on to myself at say £12, making themselves £2. If I put VAT on this is it not then having VAT paid twice on the same item?
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    Purchasing from non-VAT registered company

    Of course they would be charging me a price inclusive of VAT otherwise they would be loosing 20%? Surely the VAT has been added twice then? When they purchase it they are being charged VAT which they pay. They then sell it on to myself. If I put vat onto their price, that is over 40% VAT being...
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    Purchasing from non-VAT registered company

    Hi, Trying to get my head around something that seems simple but can't work it out. A non-VAT registered business purchases a product from a VAT registered wholesaler. They sell on to myself at a VAT inclusive price. Obviously I cannot claim the VAT back but surely the VAT isn't added on again...
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    Lease/loans, ownership and repayment

    Hi, when I say investment it could be considered as a loan from a family member, no terms applied. The money is there when I want it. I am currently a sole trader.
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    Lease/loans, ownership and repayment

    Hi, I've had a good read around but can't seem to find much that answers my question specifically. My business has had 20k of investment put into to purchase new equipment and fittings. From a tax point of view I am trying to work out the best way of going about things. Obviously at some point...
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    Reselling goods, vat and profits

    Hi, that seems to have answered my question and I understand better now the previous posts. One would assume that I issue my invoices as retail, with everything all in and no mention of vat anywhere. Many thanks
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