Parking/Penalty Charge Notice - tax code

Discussion in 'Accounts & Finance' started by Nicola Gorringe, Oct 10, 2019.

  1. Nicola Gorringe

    Nicola Gorringe UKBF Newcomer Free Member

    5 0
    Good afternoon all,

    Can you please advise on the tax code for a parking fine please? I've been using t0 up until now (we get a few!) TIA
     
    Posted: Oct 10, 2019 By: Nicola Gorringe Member since: Oct 10, 2019
    #1
  2. STDFR33

    STDFR33 UKBF Big Shot Free Member

    4,432 1,171
    What is t0?
     
    Posted: Oct 10, 2019 By: STDFR33 Member since: Aug 7, 2016
    #2
  3. Scalloway

    Scalloway UKBF Legend Free Member

    16,240 3,436
    I would think it is outside the scope of VAT, not zero rated.
     
    Posted: Oct 11, 2019 By: Scalloway Member since: Jun 6, 2010
    #3
  4. Adam93

    Adam93 UKBF Regular Free Member

    369 77
    T0 is a PAYE tax code - I think this is what the question is after, but may be wrong.

    the tax treatment will depend on the employment contract I would suspect.
     
    Posted: Oct 11, 2019 By: Adam93 Member since: Jan 18, 2018
    #4
  5. NicoJ

    NicoJ UKBF Regular Free Member

    252 48
    It's the code on SAGE software, nothing to do with payroll.

    Fines are outside the scope as Scalloway says so generally are T9 transactions.

    Arguably the "fines" from private companies are not actual fines so should be treated as T0.

    Either way I wouldn't be too worried about it as long as you are not reclaiming any input vat.
     
    Posted: Oct 11, 2019 By: NicoJ Member since: Mar 27, 2017
    #5
  6. Adam93

    Adam93 UKBF Regular Free Member

    369 77
    T0 is also a PAYE tax code! OP is not very clear. I have read it as they have paid employees parking fines... but you could take it as a VAT code as well but I wouldn’t refer to it as a tax code!
     
    Posted: Oct 11, 2019 By: Adam93 Member since: Jan 18, 2018
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  7. NicoJ

    NicoJ UKBF Regular Free Member

    252 48
    SAGE refers to the different rates of VAT as T0, T1, T2 etc - add this to the previous question by the same poster where she references using SAGE is why I (and Scalloway) answered the way we did.

    Not to be pedantic but a PAYE code would be 0T not T0.
     
    Posted: Oct 11, 2019 By: NicoJ Member since: Mar 27, 2017
    #7
  8. NicoJ

    NicoJ UKBF Regular Free Member

    252 48
    Sorry meant to SAGE refers to codes for VAT as tax codes, missed the end of my sentence there.
     
    Posted: Oct 11, 2019 By: NicoJ Member since: Mar 27, 2017
    #8
  9. Nicola Gorringe

    Nicola Gorringe UKBF Newcomer Free Member

    5 0
    Yes parking fines are outside the scope usually, so t9 BUT a couple we have had recently are PARKING charge notices (so private?). Effectively you can ignore these but if the company decides to take it to legal proceedings it can be more hassle than it's worth.
     
    Posted: Oct 16, 2019 By: Nicola Gorringe Member since: Oct 10, 2019
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  10. TheCyclingProgrammer

    TheCyclingProgrammer UKBF Regular Free Member

    1,217 245
    Out of date advice. You should not ignore parking charge notices. They can be successfully pursued in the courts.
     
    Posted: Oct 16, 2019 By: TheCyclingProgrammer Member since: Jul 15, 2014
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  11. SERC1204

    SERC1204 UKBF Regular Free Member

    134 9
    As said, don't ignore. Have a look at the Money Saving Expert (MSE) forums, there's a plethora of relevant postings. Some parking firms are more litigious than others (e.g. ParkingEye), others will rely more on their own efforts as most people see them as something they have to pay.

    The general advice on MSE is "don't pay (at least not immediately, but don't ignore".
     
    Posted: Oct 16, 2019 By: SERC1204 Member since: Apr 19, 2017
    #11