Do you pay vat on gross earnings?
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If I own 2+ holiday let properties in the UK and their combined earnings are more than the VAT threshold (currently £73,000) do I need to pay VAT? The properties are not located in the same block, are separated, do not depend on each other and are not connected in any way so will they be classed as separate 'businesses' for the VAT calculation? I know that if one tips the £73,000 mark on its own then I would pay VAT on that one but I'm not sure if I need to add all the incomes from all...
Answer:
I would seek professional advice from a qualified accountant who has experience with furnished holiday...
Stephen at Yahoo! Answers Mark as irrelevant Undo
Other solutions
Answer:
Everyone who buys anything from a VAT registered business is required to pay the VAT element of the...
SimonC at Yahoo! Answers Mark as irrelevant Undo
OK. I am starting (well sort of have started) a gardening business... I have been doing it off and on for friends etc for a couple of weeks, but all of a sudden ive got so many jobs coming in, ive decided imma do it for proper... SO... What do i need...
Answer:
Hi All advice above is excellent but... When Jane L says you should register your new business with...
therunit at Yahoo! Answers Mark as irrelevant Undo
Hi Items I am interested in buying are wholesale items from China, Hong Kong and India. I intend to sell these on, on a market stall I am starting. Am I correct in thinking that VAT in addition to import duty will be payable on these items - at what...
Answer:
If you're not VAT registered then you don't have to worry about VAT. You'll pay the purchase price,...
Ronnie at Yahoo! Answers Mark as irrelevant Undo
I am registered as a self employed caterer. I dont expect my turnover to go over the VAT threshhold at this time. However, I am paying VAT on all the food I buy so I am considering registering for VAT voluntarily. What does this mean for me? I can claim...
Answer:
If you register for VAT you will need to charge VAT on what you sell, putting up your prices 20% at...
Louise Fisher at Yahoo! Answers Mark as irrelevant Undo
I'm a little confused. I've been reading through HMRC website and Business Link and as far as I can make out I dont need to register for VAT as food is VAT exempt..is that correct? And if so, do I still have to pay VAT when I go to the food outlets ie...
Answer:
Unfortunately no. As a rule of thumb only raw food is exempt from VAT. The tax kicks in if you do anything...
karis109 at Yahoo! Answers Mark as irrelevant Undo
I want to start an online agency offering services around the region to begin with. I hope to have each 'specialist' in place and each time they get a job because of my agency's reccomendation, i deduct 15% of their earnings. Now i hope that if its a...
Answer:
If you employ people you are legally responsible for the tax accounting. You need to be VAT registered...
Samuel Unwin at Yahoo! Answers Mark as irrelevant Undo
are they trying it on with me? should i owe them my gross wages for the time i was training and the vat on the cost of the course. i signed a contract with an ex manager to agree to pay back money for the course if ileft before 1 year. i have also been...
Answer:
I would refuse to pay it! After all you had no Contract of Employment to begin with, you could claim...
Tim H at Yahoo! Answers Mark as irrelevant Undo
If I make a gross earnings of $800 on my next paycheck (bi-weekly) then how many deductions (rough estimate) will be taken off of that paycheck? How much will I walk away with when I get my paycheck? (No dependants/spouses).
Answer:
If you live in Ontario: Gross pay: 800.00 Income tax: 68.23 CPP: 32.94 EI: 14.24 Net Pay: 684.59
C-Nu at Yahoo! Answers Mark as irrelevant Undo
From one week to the next my ytd earnings fluctuate way more than I made or in some cases I loose money( which can't happen if I worked) and there was no overpayments made to me. Examplethe one week I lost 300.00 but grossed 690 and then another week...
luciewoosie at Yahoo! Answers Mark as irrelevant Undo
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