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Where Taxpayers and Advisers Meet

Search found 922 matches

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by jpcentral
Mon Apr 04, 2016 12:47 pm
Forum: Income Tax
Topic: Dividend taken by a permanent full time employee.
Replies: 1
Views: 388

Re: Dividend taken by a permanent full time employee.

Suresh In order to receive dividends you have to be a shareholder in the company. Only shareholders can be paid dividends. Were you a shareholder? Did you own part of the company? If you, legally, received dividends, you should also have received dividend vouchers. You probably don't want to publish...
by jpcentral
Sat Apr 02, 2016 12:10 pm
Forum: VAT & Excise Duties
Topic: Item exempt from Import Duty - still pay VAT???
Replies: 3
Views: 1044

Re: Item exempt from Import Duty - still pay VAT???

There are all manner of things on which import VAT is paid but which do not attract duty. Unless the goods in question are zero rated in the UK, you will be charged VAT.
by jpcentral
Thu Mar 31, 2016 8:45 am
Forum: VAT & Excise Duties
Topic: Do i need to charge VAT?
Replies: 2
Views: 596

Re: Do i need to charge VAT?

If you are making a VATable supply, you have to charge VAT.

If you provide more information about the goods/service and parties involved, you might get a more detailed response covering a specific circumstance.
by jpcentral
Fri Mar 18, 2016 6:40 pm
Forum: General
Topic: Corporation Tax owed / Ltd Co Dissolved
Replies: 2
Views: 2358

Re: Corporation Tax owed / Ltd Co Dissolved

I'm not sure that the statement that the declaration has to state there are no creditors. Using a form DS01 in accordance with S1003 of the Companies Act allows for the application to be made provided that none of the circumstances described in S1004 or S1005 exist. One of the conditions of using th...
by jpcentral
Fri Mar 18, 2016 6:05 pm
Forum: Property Taxation
Topic: Tax code change based on anticipated BTL income
Replies: 1
Views: 425

Re: Tax code change based on anticipated BTL income

It is something which HMRC are increasingly doing. We don't think it is appropriate but they are doing it.

She can contact HMRC and ask them to amend her tax code to remove the deduction for the BTL income.
by jpcentral
Fri Mar 18, 2016 1:20 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: PAYE RTI means I can't pay my wife. She's not happy.
Replies: 4
Views: 1258

Re: PAYE RTI means I can't pay my wife. She's not happy.

The RTI system allows for corrections to be made to previous periods. Our software allows us to open a previous period and make an adjustment. The next RTI submission picks up the information and shows the year to date totals. Obviously it is not something to be encouraged or routinely accepted but ...
by jpcentral
Wed Mar 16, 2016 9:55 am
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: PAYE RTI means I can't pay my wife. She's not happy.
Replies: 4
Views: 1258

Re: PAYE RTI means I can't pay my wife. She's not happy.

Not sure why your accountant is saying that she can't be added as an employee. The PAYE scheme may have been cancelled if it hasn't been used but it only takes a few days to set up a new scheme.
by jpcentral
Fri Mar 04, 2016 1:07 pm
Forum: Business Tax
Topic: New dividend rules SME
Replies: 2
Views: 1015

Re: New dividend rules SME

The company declares the dividend and the director asks for it to be credited to his/her Director Loan Account. The money doesn't actually have to be taken.
by jpcentral
Thu Feb 18, 2016 9:41 am
Forum: Income Tax
Topic: Correcting error in PAYE slips
Replies: 1
Views: 335

Re: Correcting error in PAYE slips

You have two options which I can immediately see: 1. Since we are still in the same PAYE year you could take less in February and March to make the overall annual total correct. This may not work, depending on the amounts involved. If you can do this, the tax position will sort itself out by the end...
by jpcentral
Tue Feb 09, 2016 11:04 am
Forum: VAT & Excise Duties
Topic: Intermediary/commission VAT based question
Replies: 6
Views: 1244

Re: Intermediary/commission VAT based question

Your idea sounds reasonable but there are issues. I suppose your concept is similar to Amazon or ebay. With both of those the seller (ie the tradesman in your case) issues the invoice. Because Amazon/ebay collect the money and control the collection process they are able to deduct their commission d...

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