In VAT you have things which are exempt from VAT and things which have VAT at zero rate. So for both there is no VAT to pay.
What's the point of that.
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In VAT you have things which are exempt from VAT and things which have VAT at zero rate. So for both there is no VAT to pay.
What's the point of that.
It's all to do with the claiming back of the VAT, rather than the paying of it.
You can claim back any VAT paid on the zero-rated items but, sadly, any VAT which you've paid on the exempt items is not reclaimable.
It's a subtle nuance which many miss.
Mods,please move this post to the Drawing Room.
Numbers hurt me head.
Peace bd :cry:
I thought this was a thread about alchohol. :blink:
And they said accountancy rodding was impossible.Quote:
Originally Posted by manker
You'll be telling me next that businesses can be partially exempt and that they can only reclaim their input tax based on a mixture of apportionment of the input tax between that which is directly related to taxable supplies and that which relates to exempt supplies and a residual amount, relating to both, which is then also apportioned, normally as a ratio between the taxable and exempt supplies.
You dare to defy the rod?!!?!?? :angry:Quote:
Originally Posted by JPaul
Well yes, that would be the next thing he might say.Quote:
Originally Posted by JPaul
You saved him the effort.
Jolly good show.
Pas de problem, it is a team game apres tout.Quote:
Originally Posted by clocker
You make that sound really complicated when in fact, it's a piece of pish.Quote:
Originally Posted by JPaul
Ok while you lot are talking paperwork, why would the IRS send me tax returns when I've been in employment for over 18 months?
I filed my last one for self employment last year.
They've also sent me a bill for NI from Jan to Apr of this year when I've been paying stamp obviously since I started employment.
I know I could phone them but their hard work :rolleyes:
Jonno :cool:
Once you've been self employed, they'll keep sending them.
Just fill it in and send it back. Leave the self employment part blank and the employment part only requires you to enter two figures off your P60. The rest is info about your employer that you'll also find on your P60.
Thats such a waste of money ffs :frusty:
Ok what about the NI thing? cos I ain't paying it twice :dry:
Jonno :cool:
http://members.toast.net/flashradar/bushfing2.gifQuote:
Originally Posted by manker
Your boss hasn't been making the contribution.Quote:
Originally Posted by Jon L. Obscene
Yes they have, must have, I get a printed pay slip....mind you that don't mean shit.....hmmm, maybe I ought to look for my p60 :dry:
Jonno :cool:
Your P60 is a very valueble piece of paper,I'm suprised that a mature responsible adult such as yourself would be unable to lay your hands on it at a moments notice,what sort of attitude is that to teach the younger more immpressionable members of the forum :nono: Shame on you :shifty:
Indeed, a sassy frood always knows where his P60 is.Quote:
Originally Posted by gripper103.2
Did you get one.
Mine are in the black briefcase behind my chair....I think :shifty:
They're prolly asking for Class 2 NI contributions - which are only due from folk who are self employed. Once they see that you aren't and haven't been self employed for 18 months, they'll cancel the liability.Quote:
Originally Posted by Jon L. Obscene
At least, that's how it works in theory. You'll probably have to phone them up and demand that they look at the form (once you've submitted it), cross reference it to the NI demand you've had and then manually cancel t'bill.
I thought you'd like that :happy:Quote:
Originally Posted by JPaul
I have to confess to not finding it so very pish when they threw some of that into my tax exam, especially with a bit of foreign exchange thrown in for good measure.Quote:
Originally Posted by manker
I hates VAT, I do.
Ah yes, did'nt think of that, class 2 :frusty: muppet, been a while since I done bookwork :lol:Quote:
Originally Posted by manker
Cheers dude, will give em a buzz 2morrow :)
The only thing mature about me is teh cheesey smell from my feet :01:Quote:
Your P60 is a very valueble piece of paper,I'm suprised that a mature responsible adult such as yourself would be unable to lay your hands on it at a moments notice,what sort of attitude is that to teach the younger more immpressionable members of the forum Shame on you
Jonno :cool:
Anytime, unless it's Robert the pervy letch - in which case I'll just take teh piss :D
Partial Exemption humour, whilst a tad esoteric, is the wasp's nipples.Quote:
Originally Posted by manker
I liked the hot pie conundrum.Quote:
Originally Posted by Biggles
If a baker takes his pies out of the oven at about lunchtime and then sells them, say to school children, whilst they are still hot, what is the VAT liability.
You mentioned that before. I thought you were trying to make children VATable.Quote:
Originally Posted by JPaul
Which is an excellent idea. That'll teach those single Mums :dry:
Well I loike it.Quote:
Originally Posted by manker
What about the other classic, is a Jaffa Cake a cake or a biscuit and why.
I had no idea so I googled.Quote:
Originally Posted by JPaul
However, I found this one a forum, posted by a person called 'menace' - so it may be pish. Googling > me :unsure:Quote:
Jaffa Cakes have been determined, in a HMC&E ruling, to be cakes and not biscuits, at least for VAT purposes. The judgement was based upon the length of time and the heat at which they are baked, which is not sufficient to harden them to the consistency of a biscuit. This, combined with Jaffa's designation of them as "cakes," results in their being VATable as cakes and not biscuits.
Nice googling.