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Where Taxpayers and Advisers Meet

Search found 18 matches

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by keaton
Tue Aug 25, 2015 4:52 pm
Forum: VAT & Excise Duties
Topic: Selling overseas and vat.
Replies: 3
Views: 829

Re: Selling overseas and vat.

As I won't be selling past the UK vat threshold I won't have to charge vat on items though will I, as I won't need to register for vat as I won't sell neasr that amount of product?
by keaton
Mon Aug 24, 2015 9:24 pm
Forum: VAT & Excise Duties
Topic: Selling overseas and vat.
Replies: 3
Views: 829

Selling overseas and vat.

I'm looking to start a online business selling handmade items (by myself) on sites such as eBay and etsy. Profit each year I'm expecting around 20k. With that figure I'll be well below the UK vat threshold, yet I've just read that as I'll be selling worldwide I have to be aware of each country's tax...
by keaton
Sun Feb 22, 2015 6:22 pm
Forum: Tax Investigations and Enquiries
Topic: business records check 'cash' question.
Replies: 3
Views: 1693

Re: business records check 'cash' question.

I'm wondering into respect of a seller selling online, his payments going through PayPal, would he be classed as cash?
as the money is not owing paid into his hand (so there is actual proof of money being paid due to PayPal print outs)
by keaton
Sun Feb 22, 2015 3:18 am
Forum: Tax Investigations and Enquiries
Topic: business records check 'cash' question.
Replies: 3
Views: 1693

business records check 'cash' question.

One of the questions asked during the phone stage is ' how many of your transactions are in cash?', is this referring to cash paid in hand (for example from a customer at a takeaway)

So are sales online through PayPal classed as paid in cash?
by keaton
Thu Feb 19, 2015 1:46 am
Forum: Tax Investigations and Enquiries
Topic: HMRC Business Records Checks
Replies: 4
Views: 2423

Re: HMRC Business Records Checks

Just read up on these, what are the chaces a small business will receive the letter (what % of people get a letter)
by keaton
Tue Jan 06, 2015 3:15 am
Forum: General
Topic: laptop or no laptop?
Replies: 2
Views: 1430

laptop or no laptop?

A question I've seen answered a few times, each with different answers. I plan to buy a laptop for my business, that would be 100% for my business (I would use my tablet for my own stuff) but am unsure whether I can claim this as a expense? The answers across the internet very from- 1, I can claim t...
by keaton
Thu Aug 21, 2014 1:49 pm
Forum: General
Topic: doing your accounting, for dummies.
Replies: 3
Views: 2217

Re: doing your accounting, for dummies.

Thank you for the really helpful reply, its nice to know I'm pretty much on the right track.

50k selling socks, maybe I need to look at sock wholesalers lol.
by keaton
Thu Aug 21, 2014 12:58 am
Forum: General
Topic: doing your accounting, for dummies.
Replies: 3
Views: 2217

doing your accounting, for dummies.

I'm planning on opening my own small business in the future, while I intend to use a accountant I believe it does not hurt if I understand the basics myself. I plan on making my own handmade items, working from home and selling online. So profits would be those things I sell, expenses would be - Mat...
by keaton
Wed Aug 20, 2014 6:45 pm
Forum: Tax Investigations and Enquiries
Topic: Accounts Incorrectly Completed! Tax inspection coming up!
Replies: 4
Views: 2272

Re: Accounts Incorrectly Completed! Tax inspection coming up

Any idea what may have triggered the investigation, chances are its not justa random one, and from what i understand the amount your earning does not make you an especially good yield for them.
by keaton
Wed May 21, 2014 5:24 pm
Forum: Tax Investigations and Enquiries
Topic: 20 year rule.
Replies: 14
Views: 5375

Re: 20 year rule.

So do they go back more than 40 years because that guys post seems to contradict most things I've read saying 'in no circumstances will hmrc go back further than 20 years'

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