This scheme is designed to reduce the cost of complying with VAT obligations by simplifying the way small businesses calculate their VAT. It is available to businesses who expect their VAT exclusive turnover in the next 12 months to be no more than £150,000 in taxable supplies.
Taxable supplies are calculated by looking at the total of supplies at the positive and zero rates, excluding VAT and the value of any capital assets expected to be sold. Total business income includes taxable supplies and the value of exempt and other non-taxable income.
A business must leave the scheme arises when turnover increases to £225,000
The flat rate scheme saves time by removing the need to calculate and record output tax and input tax in calculating the net VAT due to HM Revenue & Customs. The VAT in a period is calculated by applying the flat rate percentage to the tax inclusive turnover for the period. However, the flat rate rate scheme can cost extra VAT if you make supplies which are exempt from VAT as flat rate VAT will be payable on the value of all supplies made, including exempt supplies.
HM Revenue & Customs has published a table showing rates applicable to many business sectors. Some examples are:
Retail of food, newspapers, confectionery 2
Retail of vehicles or fuel 5.5
Photography 8.5
Estate agency 9.5
Hairdressing 10.5
Legal services 12
Computer and IT consultancy 11.5
The flat rate to be used depends on which trade sector most accurately reflects any particular business. If a business includes supplies in two or more sectors, the percentage to be used is that appropriate to the main business activity as measured by expected turnover in the year ahead.
If you are making supplies to other VAT registered businesses, you give them a VAT invoice charging VAT at the normal rate for the supply (not the flat rate percentage).
Most traders with qualifying turnover are eligible to join the scheme, but there are a number of exclusions designed to prevent abuse of the scheme as well as a few to avoid complex interaction with other schemes. The scheme is optional, but traders wishing to join should complete Form VAT 600 (FRS) (which can be printed off the HMRC website at www.hmrc.gov.uk).
Saturday, December 19, 2009
Friday, December 18, 2009
BIDBROO'S
Bidroo's is a little bit different from your standard auction site. Here, it's not about how high you bid, but about how low. It's a reverse auction site offering you the opportunity to purchase a whole range of products and experiences starting from as little as 1p.
ENJOYING YOUR MORNING CUP OF COFFEE
UNICEF is currently working in more than 90 countries around the world to improve water supplies and sanitation facilities in schools and communities.
Please promise to help UNICEF protect children’s right to clean water.
By making your promise today, you’ll be helping children around the world have access to clean, safe water; keeping them healthy and well.
Your gift will be used specifically to support UNICEF’s essential child survival work, including our water and sanitations work.
Please promise to help UNICEF protect children’s right to clean water.
By making your promise today, you’ll be helping children around the world have access to clean, safe water; keeping them healthy and well.
Your gift will be used specifically to support UNICEF’s essential child survival work, including our water and sanitations work.
Grants of Cornwall
Do you have any unwanted gold jewellery lying around? Perhaps you could do with a bit of extra cash but don't know how to go about calculating the weight and purity of your gold? With gold prices at record levels at the moment there has never been a better time to cash in your unwanted gold with Grants of Cornwall - we are able to offer you a fantastic price of up to £746 per ounce of unwanted gold*.
We provide and simple and quick service from start to finish for selling your gold. Our price of £746 is acheived by forward buying contracts to sell gold.
We provide and simple and quick service from start to finish for selling your gold. Our price of £746 is acheived by forward buying contracts to sell gold.
Wednesday, December 16, 2009
iFlorist
CLICK for WEBSITE
Sending flowers globally has never been easier than with iflorist, delivering flowers to over 140 countries. We also have an extensive range of wines, champagne, balloons, chocolates and hampers. Orders can be made and delivered within 4 hours from our network of over 1800 UK florists, and with over 300 funeral and sympathy tributes our specialist floral service is the most comprehensive in the industry.
Average transaction values of over £40 and the highest visitor conversion of any florist site ensure healthy commissions from our extremely competitive and easy to use gifting website.
Christmas Voucher Code
Code "FLOWERS10" - 10% off your order. Find out more in the voucher manager.
Sending flowers globally has never been easier than with iflorist, delivering flowers to over 140 countries. We also have an extensive range of wines, champagne, balloons, chocolates and hampers. Orders can be made and delivered within 4 hours from our network of over 1800 UK florists, and with over 300 funeral and sympathy tributes our specialist floral service is the most comprehensive in the industry.
Average transaction values of over £40 and the highest visitor conversion of any florist site ensure healthy commissions from our extremely competitive and easy to use gifting website.
Christmas Voucher Code
Code "FLOWERS10" - 10% off your order. Find out more in the voucher manager.
Friday, October 30, 2009
VAT Accountancy Services's Profile
VAT Accountancy Services's Profile
Former VAT auditor, with 25 years experience, offers VAT & accountancy services
VAT returns completed and submitted. (Related bookkeeping can be undertaken.)
Assistance with late return submission & negotiating time to pay.
Checking last 4 VAT returns in order to determine if VAT payment liability can be reduced by transfer to authorised VAT scheme.
Assistance with HMRC tax assessments.
Completion of self assessments.
Completion of annual P & L accounts & Balance Sheet.
Based in Lincolnshire.
Can visit Lincolnshire clients.
http://www.brownbook.net/account/profile/28334
Former VAT auditor, with 25 years experience, offers VAT & accountancy services
VAT returns completed and submitted. (Related bookkeeping can be undertaken.)
Assistance with late return submission & negotiating time to pay.
Checking last 4 VAT returns in order to determine if VAT payment liability can be reduced by transfer to authorised VAT scheme.
Assistance with HMRC tax assessments.
Completion of self assessments.
Completion of annual P & L accounts & Balance Sheet.
Based in Lincolnshire.
Can visit Lincolnshire clients.
http://www.brownbook.net/account/profile/28334
Londons Cheapest Utilites
Londons Cheapest Utilites
5% CashBack on your other household shopping
Unlimited "Free Global calls"
Peace of mind on energy prices
All your utilities on the same monthly bill
Award-winning UK-based customer service
Exclusive membership discounts
https://www.utilitywarehouse.co.uk/home/index.taf?exref=857589
5% CashBack on your other household shopping
Unlimited "Free Global calls"
Peace of mind on energy prices
All your utilities on the same monthly bill
Award-winning UK-based customer service
Exclusive membership discounts
https://www.utilitywarehouse.co.uk/home/index.taf?exref=857589
Monday, September 28, 2009
It is unlikely that the temporary reduction in the standard rate of VAT will be extended
It is unlikely that the temporary reduction in the standard rate of VAT will be extended beyond the end of the year after it was revealed that tax revenues have fallen sharply.
In July, the government borrowed £8 billion, during a month when the tax take is usually at a high.
Although the government has already predicted a public finance deficit of £175 billion for the current year, some analysts are forecasting a gap of as big as £200 billion.
Against the backdrop of a significant deterioration in state finances, the Treasury moved to re-affirm that the VAT cut, which saw the standard rate drop from 17.5 per cent to 15 per cent, will lapse, as planned, on 1 January.
For this year, the VAT reduction will end up costing the government some £12 billion in revenue.
A number of business groups have been lobbying for an extension to the reversion to the old rate or at least a delay in its timing.
But it is thought the Chancellor, Alistair Darling will give greater weight to concerns over the scale of the UK’s debt among the international money markets.
Figures from the Office for National Statistics revealed that VAT receipts for July were down 33.8 per cent on the same period last year.
Other business taxes have declined as well. Corporation tax yielded the exchequer 37.9 per cent less than a year ago, slumping to £6.3 billion as a result of diminishing profits, while income from National Insurance contributions also fell
In July, the government borrowed £8 billion, during a month when the tax take is usually at a high.
Although the government has already predicted a public finance deficit of £175 billion for the current year, some analysts are forecasting a gap of as big as £200 billion.
Against the backdrop of a significant deterioration in state finances, the Treasury moved to re-affirm that the VAT cut, which saw the standard rate drop from 17.5 per cent to 15 per cent, will lapse, as planned, on 1 January.
For this year, the VAT reduction will end up costing the government some £12 billion in revenue.
A number of business groups have been lobbying for an extension to the reversion to the old rate or at least a delay in its timing.
But it is thought the Chancellor, Alistair Darling will give greater weight to concerns over the scale of the UK’s debt among the international money markets.
Figures from the Office for National Statistics revealed that VAT receipts for July were down 33.8 per cent on the same period last year.
Other business taxes have declined as well. Corporation tax yielded the exchequer 37.9 per cent less than a year ago, slumping to £6.3 billion as a result of diminishing profits, while income from National Insurance contributions also fell
Monday, August 24, 2009
Focus DIY in insolvency deal to save 5,000 jobs
Creditors of the retail chain Focus DIY are expected tomorrow to approve a company voluntary arrangement (CVA), an insolvency process that will save the retailer from administration and protect 5,000 jobs.
The Cheshire-based chain needs 75% of creditors – mostly landlords – to back a plan put together by the accounting firm BDO Stoy Hayward.
Under the proposal, Focus would drop the leases of its 38 closed stores, worth an annual £12m in rent, and in return offer landlords, including British Land, Land Securities and Aviva, a share of a £3.7m compensation pot, as well as further rate payments linked to the empty stores, a package worth about £6m.
"While the payout is less than the lease values, it's more than they would get if the firm went under," said the British Property Federation, representing the landlords.
Focus also wants the landlords of its 180 trading stores to accept monthly rather than quarterly rent payments until March 2011. The process would also see Focus's lenders – Lloyds Banking Group's HBOS and GMAC – provide a two-year extension to the firm's £50m revolving credit facility, due at the end of this year.
Focus, bought by the US private equity firm Cerberus in 2007 from its rivals Apax Partners and Duke Street, has been struggling for years amid a heavy debt mountain and dwindling sales. If the CVA fails, Focus could enter into a pre-pack administration, where receivers bundle the profitable parts of the company into a new business and sell it a process that usually leaves some creditors, such as landlords, without payment.
The Cheshire-based chain needs 75% of creditors – mostly landlords – to back a plan put together by the accounting firm BDO Stoy Hayward.
Under the proposal, Focus would drop the leases of its 38 closed stores, worth an annual £12m in rent, and in return offer landlords, including British Land, Land Securities and Aviva, a share of a £3.7m compensation pot, as well as further rate payments linked to the empty stores, a package worth about £6m.
"While the payout is less than the lease values, it's more than they would get if the firm went under," said the British Property Federation, representing the landlords.
Focus also wants the landlords of its 180 trading stores to accept monthly rather than quarterly rent payments until March 2011. The process would also see Focus's lenders – Lloyds Banking Group's HBOS and GMAC – provide a two-year extension to the firm's £50m revolving credit facility, due at the end of this year.
Focus, bought by the US private equity firm Cerberus in 2007 from its rivals Apax Partners and Duke Street, has been struggling for years amid a heavy debt mountain and dwindling sales. If the CVA fails, Focus could enter into a pre-pack administration, where receivers bundle the profitable parts of the company into a new business and sell it a process that usually leaves some creditors, such as landlords, without payment.
Monday, July 20, 2009
Who are the Utility Warehouse?
The Utility Warehouse is the trading name of Telecom plus PLC. We provide a range of essential everyday services to homes and businesses across the UK. Our aim is simple: to save our customers money and provide them with the best in customer service.
Since its beginning in 1996, Telecom plus has grown from just an idea into one of the largest and most successful companies listed on the London Stock Exchange. This phenomenal growth has been achieved by word of mouth referral marketing.
However, we believe that what we have achieved so far is just the beginning for the company.
The question is: would you like to share in our future success?
The management team is headed by Charles Wigoder (right), a successful and well respected entrepreneur. Before joining Telecom plus he founded Peoples Phone in 1988, building it into the UK's first virtual mobile network, with over 400,000 customers and 10% of the UK market.
Charles believes the Utility Warehouse is in the right place to experience substational growth over the next few years. We have recently bought a new Head Quarters building to accommodate the increase in staff we will need to manage this growth. This demonstrates the confidence we have in the future of the business.
http://www.utilitywarehouse.biz/index2.taf?exref=857589
Since its beginning in 1996, Telecom plus has grown from just an idea into one of the largest and most successful companies listed on the London Stock Exchange. This phenomenal growth has been achieved by word of mouth referral marketing.
However, we believe that what we have achieved so far is just the beginning for the company.
The question is: would you like to share in our future success?
The management team is headed by Charles Wigoder (right), a successful and well respected entrepreneur. Before joining Telecom plus he founded Peoples Phone in 1988, building it into the UK's first virtual mobile network, with over 400,000 customers and 10% of the UK market.
Charles believes the Utility Warehouse is in the right place to experience substational growth over the next few years. We have recently bought a new Head Quarters building to accommodate the increase in staff we will need to manage this growth. This demonstrates the confidence we have in the future of the business.
http://www.utilitywarehouse.biz/index2.taf?exref=857589
Wednesday, June 17, 2009
www.hubbardshills.com
Welcome
From the first of April this year the area known as Hubbard's Hills is now under the management of the Hubbard's Hills Trust Ltd.The Trust will in due course be developing this website. If you would like to contact us before then please e-mail Andrew Leonard.
The address is andrew.leonard@hubbardshills.com.
Please enjoy the facilities offered in this Area of Outstanding Natural Beauty.
Andrew Leonard[Chairman of the Hubbard's Hills Trust Ltd]
©hubbardshills.com 2009
From the first of April this year the area known as Hubbard's Hills is now under the management of the Hubbard's Hills Trust Ltd.The Trust will in due course be developing this website. If you would like to contact us before then please e-mail Andrew Leonard.
The address is andrew.leonard@hubbardshills.com.
Please enjoy the facilities offered in this Area of Outstanding Natural Beauty.
Andrew Leonard[Chairman of the Hubbard's Hills Trust Ltd]
©hubbardshills.com 2009
Thursday, June 11, 2009
Tax implications of the Vehicle Scrappage Scheme
Tax implications of the Vehicle Scrappage Scheme
The government announced at Budget 2009 the introduction of a temporary vehicle scrappage scheme. It is a voluntary scheme which will be administered by participating motor manufacturers and dealers, along with the Department for Business, Enterprise and Regulatory Reform (BERR). Information about it can be found on the BERR website and at Directgov - Motoring. You may also contact BERR’s enquiry unit on Tel 020 7215 5000, or email the BERR Automotive Unit with 'scrappage' entered in the subject heading.
A. VAT and direct tax profits implications
Vehicles supplied under the scheme will be subject to the normal VAT and direct tax rules. The purpose of this brief is to explain how those rules apply to the £1,000 subsidy payable by BERR on qualifying supplies made under their scheme, plus the £1,000 discount paid by the manufacturer.
Dealers
If you are a dealer participating in the Scheme and the manufacturer uses the arrangements above, the cost of the new vehicle received by you is unaffected, and you should make no adjustments to the VAT you pay to the manufacturer, or claim from HMRC as input tax. As explained above, the manufacturer is not providing a £1,000 (or greater) discount to you as part of the Scheme – they are providing it to your customer. Your selling price for the vehicle has not changed and you must not reduce your output tax. Whatever your final VAT-inclusive ( 'On The Road ') selling price of the new vehicle is, under the Scheme your customer pays £2,000 less, with the balance of the consideration being made up of the two £1,000 subsidies. Under the Scheme, it is important that it is clear to your customer that they are paying £2,000 less than would otherwise be the case – see Directgov - Motoring (opens new window)
The effect of the Scheme on the dealer is neutral for the purposes of computing trading profits. The £2,000 reduction in the sale proceeds received from the customer is matched by the £2,000 trade receipt received in the form of the subsidies paid to the dealer under the scheme.
Customers
Customers buying a new vehicle under the scheme will pay £2,000 less for the vehicle, since BERR will be paying £1,000, and the vehicle manufacturer will be paying £1,000 towards the cost of the purchase. The subsidies will be settled between the manufacturer, dealer and BERR so you will not physically be paid these amounts.
If you are VAT-registered and buy a new car or van under the scheme, you may need to reduce your input tax in respect of the manufacturer’s discount. However, you only need to consider this if you are entitled to claim VAT on the purchase of a vehicle – for example, on certain commercial vehicles, or a car that is intended to be used primarily as a taxi; driving instruction car, or self-drive hire (but see paragraph 3.1 of VAT Notice 700/64 ‘Motoring expenses’). If, under the normal VAT rules, you are entitled to reclaim the VAT you are charged on the purchase of a new vehicle and you buy one under the Scheme, you must reduce the input tax you claim in proportion to the manufacturer’s discount. This is because, at the beginning of the chain of transactions culminating in your purchasing the vehicle, the manufacturer will have reduced its output tax. Therefore, since the manufacturer contributes £1,000 and the standard rate of VAT is 15 per cent, you must reduce your input tax by £130.43. You will not receive an amended invoice or credit note. This is the normal VAT treatment for business customers receiving such manufacturer’s discounts - see Revenue and Customs Brief 08/07
http://www.webspawner.com/users/victor13/index.html
The government announced at Budget 2009 the introduction of a temporary vehicle scrappage scheme. It is a voluntary scheme which will be administered by participating motor manufacturers and dealers, along with the Department for Business, Enterprise and Regulatory Reform (BERR). Information about it can be found on the BERR website and at Directgov - Motoring. You may also contact BERR’s enquiry unit on Tel 020 7215 5000, or email the BERR Automotive Unit with 'scrappage' entered in the subject heading.
A. VAT and direct tax profits implications
Vehicles supplied under the scheme will be subject to the normal VAT and direct tax rules. The purpose of this brief is to explain how those rules apply to the £1,000 subsidy payable by BERR on qualifying supplies made under their scheme, plus the £1,000 discount paid by the manufacturer.
Dealers
If you are a dealer participating in the Scheme and the manufacturer uses the arrangements above, the cost of the new vehicle received by you is unaffected, and you should make no adjustments to the VAT you pay to the manufacturer, or claim from HMRC as input tax. As explained above, the manufacturer is not providing a £1,000 (or greater) discount to you as part of the Scheme – they are providing it to your customer. Your selling price for the vehicle has not changed and you must not reduce your output tax. Whatever your final VAT-inclusive ( 'On The Road ') selling price of the new vehicle is, under the Scheme your customer pays £2,000 less, with the balance of the consideration being made up of the two £1,000 subsidies. Under the Scheme, it is important that it is clear to your customer that they are paying £2,000 less than would otherwise be the case – see Directgov - Motoring (opens new window)
The effect of the Scheme on the dealer is neutral for the purposes of computing trading profits. The £2,000 reduction in the sale proceeds received from the customer is matched by the £2,000 trade receipt received in the form of the subsidies paid to the dealer under the scheme.
Customers
Customers buying a new vehicle under the scheme will pay £2,000 less for the vehicle, since BERR will be paying £1,000, and the vehicle manufacturer will be paying £1,000 towards the cost of the purchase. The subsidies will be settled between the manufacturer, dealer and BERR so you will not physically be paid these amounts.
If you are VAT-registered and buy a new car or van under the scheme, you may need to reduce your input tax in respect of the manufacturer’s discount. However, you only need to consider this if you are entitled to claim VAT on the purchase of a vehicle – for example, on certain commercial vehicles, or a car that is intended to be used primarily as a taxi; driving instruction car, or self-drive hire (but see paragraph 3.1 of VAT Notice 700/64 ‘Motoring expenses’). If, under the normal VAT rules, you are entitled to reclaim the VAT you are charged on the purchase of a new vehicle and you buy one under the Scheme, you must reduce the input tax you claim in proportion to the manufacturer’s discount. This is because, at the beginning of the chain of transactions culminating in your purchasing the vehicle, the manufacturer will have reduced its output tax. Therefore, since the manufacturer contributes £1,000 and the standard rate of VAT is 15 per cent, you must reduce your input tax by £130.43. You will not receive an amended invoice or credit note. This is the normal VAT treatment for business customers receiving such manufacturer’s discounts - see Revenue and Customs Brief 08/07
http://www.webspawner.com/users/victor13/index.html
Monday, June 08, 2009
Cashback Card
The Utility Warehouse CashBack card
The only payment card that gives you an extra 5% saving on: food and fuel at Sainsbury's, as well as clothing, DIY, health and beauty products, household and electrical goods... at leading retailers throughout the UK!
Participating retailers include: Sainsbury's, Argos, Halfords, Homebase, JJB sports, Topman, Topshop....
Top up your card with the amount of money you choose
Shop at any participating retailer and save 5% on top of any other special offers, sale prices, or discounts
Receive your savings as CashBack on your next Utility Warehouse bill!
There is no limit to how much CashBack you can receive!
The card is welcomed anywhere you see the MasterCard® acceptance mark. You can use it to shop online, over the phone and abroad. And because it's not linked directly to your bank account, you are protected from identity theft and fraud.
You can order a partner card with a main card - which shares the balance. Or order up to three sibling cards; each has its own balance - perfect for pocket money, or for sending money to a family member away from home - even abroad!
www.telecomplus.org.uk/857589
The only payment card that gives you an extra 5% saving on: food and fuel at Sainsbury's, as well as clothing, DIY, health and beauty products, household and electrical goods... at leading retailers throughout the UK!
Participating retailers include: Sainsbury's, Argos, Halfords, Homebase, JJB sports, Topman, Topshop....
Top up your card with the amount of money you choose
Shop at any participating retailer and save 5% on top of any other special offers, sale prices, or discounts
Receive your savings as CashBack on your next Utility Warehouse bill!
There is no limit to how much CashBack you can receive!
The card is welcomed anywhere you see the MasterCard® acceptance mark. You can use it to shop online, over the phone and abroad. And because it's not linked directly to your bank account, you are protected from identity theft and fraud.
You can order a partner card with a main card - which shares the balance. Or order up to three sibling cards; each has its own balance - perfect for pocket money, or for sending money to a family member away from home - even abroad!
www.telecomplus.org.uk/857589
Tuesday, May 19, 2009
FreeIndex.co.uk
Louth Business Directory UK
FreeIndex.co.uk is a free business directory for the UK.
The companies listed on the website below are all located in Louth.
Narrow your search by clicking on any of the Louth sub-regions.
Its completely free to advertise your business within the FreeIndex.co.uk Louth directory, and only takes a few minutes.
http://www.freeindex.co.uk/east_midlands/lincolnshire/louth/
Write a review about VAT Accountancy Services
Please be as honest as you can
Please make sure you use proper English and spell check your review
A link to your Profile Page on FreeIndex will be displayed alongside your review
Your Name and Email Address will be available to the company you write your review about
All reviews are checked and may be edited by our editorial team
http://www.freeindex.co.uk/wr.htm?id=156429&br=1
FreeIndex.co.uk is a free business directory for the UK.
The companies listed on the website below are all located in Louth.
Narrow your search by clicking on any of the Louth sub-regions.
Its completely free to advertise your business within the FreeIndex.co.uk Louth directory, and only takes a few minutes.
http://www.freeindex.co.uk/east_midlands/lincolnshire/louth/
Write a review about VAT Accountancy Services
Please be as honest as you can
Please make sure you use proper English and spell check your review
A link to your Profile Page on FreeIndex will be displayed alongside your review
Your Name and Email Address will be available to the company you write your review about
All reviews are checked and may be edited by our editorial team
http://www.freeindex.co.uk/wr.htm?id=156429&br=1
Monday, April 27, 2009
VAT Accountancy Service
VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them.
The VAT system is policed by HMRC with heavy penalties for breaches of the legislation. Ignorance is not an acceptable excuse for not complying with the rules.
WHAT IS VAT
A transaction is within the scope of VAT if:
there is a supply of goods or services
made in the UK
by a taxable person
in the course or furtherance of business.
Inputs and outputs
Businesses charge VAT on their sales. This is known as output VAT and the sales are referred to as outputs. Similarly VAT is charged on most goods and services purchased by the business. This is known as input VAT.
The output VAT is being collected from the customer by the business on behalf of HMRC and must be regularly paid over to them.
However the input VAT suffered on the goods and services purchased can be deducted from the amount of output tax owed. Please note that certain categories of input tax can never be reclaimed, such as that in respect of business entertainment and for most business cars.
Taxable supplies are mainly either standard rated (17.5%) or zero rated (0%).
For the period 1 December 2008 to 31 December 2009 the standard rate of VAT has been reduced to 15%.
There is in addition a reduced rate of 5% which applies to a small number of certain specific taxable supplies.
There are certain supplies that are not taxable and these are known as exempt supplies.
There is an important distinction between exempt and zero rated supplies.
If your business is making only exempt supplies you cannot register for VAT and cannot therefore recover any input tax.
If your business is making zero rated supplies you should register for VAT as your supplies are taxable (but at 0%) and recovery of input tax is allowed
The VAT system is policed by HMRC with heavy penalties for breaches of the legislation. Ignorance is not an acceptable excuse for not complying with the rules.
WHAT IS VAT
A transaction is within the scope of VAT if:
there is a supply of goods or services
made in the UK
by a taxable person
in the course or furtherance of business.
Inputs and outputs
Businesses charge VAT on their sales. This is known as output VAT and the sales are referred to as outputs. Similarly VAT is charged on most goods and services purchased by the business. This is known as input VAT.
The output VAT is being collected from the customer by the business on behalf of HMRC and must be regularly paid over to them.
However the input VAT suffered on the goods and services purchased can be deducted from the amount of output tax owed. Please note that certain categories of input tax can never be reclaimed, such as that in respect of business entertainment and for most business cars.
Taxable supplies are mainly either standard rated (17.5%) or zero rated (0%).
For the period 1 December 2008 to 31 December 2009 the standard rate of VAT has been reduced to 15%.
There is in addition a reduced rate of 5% which applies to a small number of certain specific taxable supplies.
There are certain supplies that are not taxable and these are known as exempt supplies.
There is an important distinction between exempt and zero rated supplies.
If your business is making only exempt supplies you cannot register for VAT and cannot therefore recover any input tax.
If your business is making zero rated supplies you should register for VAT as your supplies are taxable (but at 0%) and recovery of input tax is allowed
Monday, April 13, 2009
Save £££s on call charges and line rental compared to BT's best prices, plus "FREE GLOBAL CALLS"
_________________BT ______Home Phone_______ You save
Monthly Line rental __£14.00 ________£9.90____________ £4.10
Local / National (20 minute call)
(Peak)_____________ 98p__________ 57p ______________42%
(Evening) __________37p ___________3.5p _____________90%
Max duration for "free" or "fixed price" calls 60 mins 75 mins
Make unlimited free calls to landlines in the UK and many popular international destinations (depending on how many services you take):
To other members
Take 2 services* Weekends
Take 3 services Weekends & Evenings
Take 4 or more services Anytime
*Our BroadCall service counts as 2 services towards your free calls
www.telecomplus.org.uk/857589
Watch French and Saunders
http://www.uwdcvideos.co.uk/index.taf?exref=857589&v=3
_________________BT ______Home Phone_______ You save
Monthly Line rental __£14.00 ________£9.90____________ £4.10
Local / National (20 minute call)
(Peak)_____________ 98p__________ 57p ______________42%
(Evening) __________37p ___________3.5p _____________90%
Max duration for "free" or "fixed price" calls 60 mins 75 mins
Make unlimited free calls to landlines in the UK and many popular international destinations (depending on how many services you take):
To other members
Take 2 services* Weekends
Take 3 services Weekends & Evenings
Take 4 or more services Anytime
*Our BroadCall service counts as 2 services towards your free calls
www.telecomplus.org.uk/857589
Watch French and Saunders
http://www.uwdcvideos.co.uk/index.taf?exref=857589&v=3
Thursday, April 02, 2009
Monday, March 16, 2009
Company of the Year: Telecom Plus
Company of the Year: Telecom Plus
https://www.telecomplus.co.uk/857589
By any measure, a FTSE 250 business that is doubling revenues annually is remarkable; to be doing so in the utility sector, by definition mature, is all the more astonishing, writes Ross Tieman .
Clearly, Telecom Plus, winner of the Company of the Year award, has found an original and effective business model.
The company, where Charles Wigoder, the chief executive, and his family and friends acquired control in 1998, six months after its foundation, is unique in the UK market in offering mobile and fixed telephony, broadband and gas and electricity services to its customers on a single bill.
It does not advertise. Rather, new households are recruited to its Utility Warehouse Discount Club by a network of more than 4,000 distributors who are existing users.
These word-of-mouth customer ambassadors receive a tiny percentage of the bills paid by every new customer they recruit, in perpetuity, so retain a strong interest in ensuring ongoing customer satisfaction.
Their task is facilitated by a string of plaudits from consumer watchdog magazine Which? which says Telecom Plus is the best household provider of broadband, fixed telephony and energy in the UK.
It buys bulk telecoms capacity at wholesale prices in an oversupplied market and gets its energy from producer Npower, under a deal that transfers the risk of price fluctuations to the provider. In addition, he company supplies businesses, mainly small companies, brought in by its distributors.
It benefits from a tougher economic climate in several ways, says Mr Wigoder. "Many casual jobs no longer exist, overtime opportunities are no longer there, work hours are reduced, so we are seeing record numbers of new distributors" looking to top up their income. Meantime, consumers are keener to grasp opportunities to shave household bills, and improve visibility over their outgoings.
In the year to March 2008, Telecom Plus, which is debt-free, achieved revenues of £186m and net profits of £11.9m. By September last year, it had 227,384 household customers, up 19,000 since end-March, and trends have since accelerated.
The latest spur comes from its CashBack MasterCard, a chargeable payment card which helps households economise. Using the card for purchases at retail chains such as J Sainsbury and Boots gives household a 5 per cent discount offset against their Telecom Plus bills.
https://www.telecomplus.co.uk/markcox
https://www.telecomplus.co.uk/857589
By any measure, a FTSE 250 business that is doubling revenues annually is remarkable; to be doing so in the utility sector, by definition mature, is all the more astonishing, writes Ross Tieman .
Clearly, Telecom Plus, winner of the Company of the Year award, has found an original and effective business model.
The company, where Charles Wigoder, the chief executive, and his family and friends acquired control in 1998, six months after its foundation, is unique in the UK market in offering mobile and fixed telephony, broadband and gas and electricity services to its customers on a single bill.
It does not advertise. Rather, new households are recruited to its Utility Warehouse Discount Club by a network of more than 4,000 distributors who are existing users.
These word-of-mouth customer ambassadors receive a tiny percentage of the bills paid by every new customer they recruit, in perpetuity, so retain a strong interest in ensuring ongoing customer satisfaction.
Their task is facilitated by a string of plaudits from consumer watchdog magazine Which? which says Telecom Plus is the best household provider of broadband, fixed telephony and energy in the UK.
It buys bulk telecoms capacity at wholesale prices in an oversupplied market and gets its energy from producer Npower, under a deal that transfers the risk of price fluctuations to the provider. In addition, he company supplies businesses, mainly small companies, brought in by its distributors.
It benefits from a tougher economic climate in several ways, says Mr Wigoder. "Many casual jobs no longer exist, overtime opportunities are no longer there, work hours are reduced, so we are seeing record numbers of new distributors" looking to top up their income. Meantime, consumers are keener to grasp opportunities to shave household bills, and improve visibility over their outgoings.
In the year to March 2008, Telecom Plus, which is debt-free, achieved revenues of £186m and net profits of £11.9m. By September last year, it had 227,384 household customers, up 19,000 since end-March, and trends have since accelerated.
The latest spur comes from its CashBack MasterCard, a chargeable payment card which helps households economise. Using the card for purchases at retail chains such as J Sainsbury and Boots gives household a 5 per cent discount offset against their Telecom Plus bills.
https://www.telecomplus.co.uk/markcox
Tuesday, March 10, 2009
UK Small Business Directory
UK Small Business Directory
Local Business Directory for Local Businesses
Visit- http://www.uksmallbusinessdirectory.co.uk/
Local Business Directory for Local Businesses
Visit- http://www.uksmallbusinessdirectory.co.uk/
Tuesday, March 03, 2009
VAT, Accountancy, Services
Taxation, VAT, Accountancy, Services
Former VAT auditor, with 25 years experience, offers VAT & accountancy services
VAT returns completed and submitted. (Related bookkeeping can be undertaken.)
Assistance with late return submission & negotiating time to pay.
Checking last 4 VAT returns in order to determine if VAT payment liability can be reduced by transfer to authorised VAT scheme.
Assistance with HMRC tax assessments.
Completion of self assessments.
Completion of annual P & L accounts & Balance Sheet.
Based in Lincolnshire.
Can visit Lincolnshire clients.
Will take on clients throughout UK as above can be undertaken by telephone, e-mail and post.
Due to very low overheads very modest fees charged which can be discussed on application.
Also small client base to be maintained so prompt attention given to all clients.
Contact Mark on 01507 602826 or e-mail markcox46@yahoo.com
http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MESELX:IT&item=110351051933
Former VAT auditor, with 25 years experience, offers VAT & accountancy services
VAT returns completed and submitted. (Related bookkeeping can be undertaken.)
Assistance with late return submission & negotiating time to pay.
Checking last 4 VAT returns in order to determine if VAT payment liability can be reduced by transfer to authorised VAT scheme.
Assistance with HMRC tax assessments.
Completion of self assessments.
Completion of annual P & L accounts & Balance Sheet.
Based in Lincolnshire.
Can visit Lincolnshire clients.
Will take on clients throughout UK as above can be undertaken by telephone, e-mail and post.
Due to very low overheads very modest fees charged which can be discussed on application.
Also small client base to be maintained so prompt attention given to all clients.
Contact Mark on 01507 602826 or e-mail markcox46@yahoo.com
http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MESELX:IT&item=110351051933
Friday, February 13, 2009
French & Saunders
Hi,
Check out French & Saunders talking about how you can save money on your bills!
Simply click on http://www.uwdcvideos.co.uk/?exref=857589 then let me know what you think. It lasts about 3 minutes.
Please pass it on to anyone else you think might be interested in saving some money.
And you could win free utilities for a year!
Check out French & Saunders talking about how you can save money on your bills!
Simply click on http://www.uwdcvideos.co.uk/?exref=857589 then let me know what you think. It lasts about 3 minutes.
Please pass it on to anyone else you think might be interested in saving some money.
And you could win free utilities for a year!
Saturday, January 17, 2009
Welcome to the opportunity of a lifetime
Welcome to the opportunity of a lifetime.
Please visit and watch the video @
www.utilitywarehouse.biz/videodir/home.taf?exref=857589
We will send you a free information pack by email.
Please visit and watch the video @
www.utilitywarehouse.biz/videodir/home.taf?exref=857589
We will send you a free information pack by email.
Tuesday, January 06, 2009
Submit Your Website To Google, Yahoo, MSN
Companies that tell you that they can submit your website to 1000's of search engines for a price are just ripping you off.
There are only 3 major search engines that matter, Google, Yahoo, and MSN.
Once you get included in these major search engines, the other search engines and directories will begin to include your website in their listings.
The links below let you submit your website to each of the major search engines.
Click each website submission link and submit your website to the major search engines for free.•
Submit Your Website To GoogleFree website submission to google•
Submit Your Website To YahooFree website submission to yahoo•
Submit Your Website To MSNFree website submission to msn
There are only 3 major search engines that matter, Google, Yahoo, and MSN.
Once you get included in these major search engines, the other search engines and directories will begin to include your website in their listings.
The links below let you submit your website to each of the major search engines.
Click each website submission link and submit your website to the major search engines for free.•
Submit Your Website To GoogleFree website submission to google•
Submit Your Website To YahooFree website submission to yahoo•
Submit Your Website To MSNFree website submission to msn
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