Recent content by SussexHazel

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    Query Re: Vat changeover

    Oops yes - missed the bit about payment in December in the original post. Sorry!
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    One for the Accountants - Practice Management

    If they are paying up front and paying a premium, there's no problem. It is those that don't that need to be turned away. Saying that, it's easier said than done!
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    Query Re: Vat changeover

    You may apply 15% VAT to invoices raised after 31 December 2009, if the lessons were undertaken before 1 January 2010. Lesson charges which span the rate change can be apportioned between the 15% and 17.5% rate as stated above. Otherwise what is to stop everyone charging their customers in...
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    Query Re: Vat changeover

    As this is not a continuous supply and the tuition lessons are for sepcific dates, the December lessons should be charged at 15% and the January lessons at 17.5%. As no invoice is raised, then the requirement to issue a credit note is not applicable.
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    First tax return

    The 25% referred to Mark's private mileage in his OP
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    First tax return

    The 25% mentioned in my earlier post was the private mileage % mentioned in the OP
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    First tax return

    You use whatever percentage is appropriate to your circumstances. You should maintain a business mileage log to support the percentage used.
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    HL Vantage SIPP - Employer contributions (ltd Company)

    It does very much depend on your personal circumstances and what rate of tax you are paying personally. If your profits are before director's salary, in your case there really isn't much in it.
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    How to choose an accountant

    Whatever you do, check that they are members of a professional body and that they have PI insurance! I have just taken on a client who's previous accountant cancelled his ICAEW membership and his PI insurance. He has walked them into huge liabilities and left them in an almighty mess.
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    HL Vantage SIPP - Employer contributions (ltd Company)

    There would be no Benefit in Kind on the contribution
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    HL Vantage SIPP - Employer contributions (ltd Company)

    The company contribution would be allowable for relief against the Corporation Tax bill, providing it is deemed to be 'wholly and exclusively' for the purpose of the business. There are strict guidelines on the level of the contribution that would be allowable, in proportion to director's...
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    Snow - how is it affecting your business

    I can't get out of my road so I've been working from home. I've had three new clients in two days - it's given people the time to sort out all those things they've been meaning to do. My work phones are on divert to home and the rest of the staff are also working from home so I just email them...
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    First tax return

    Hi Mark If you claim 40p per business mile for the use of your car, this effectively covers petrol, car tax, servicing, repairs and depreciation. Alternatively you could claim all of your car expenses through the business and then disallow the 25% private element. You would then also be...
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    Good/Bad offer?

    Sounds expensive to me. The Tax Enquiry Fee protection would normally be approx £120 for a company. I would say that you should look to pay no more than £1,000 plus VAT. Good luck!
  15. S

    40 40iths

    To calculate the VAT from the gross figure = 7/47 To calculate the net from the gross figure = 40/47
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