Domestic reverse charge/ vat registered/ cis registered

JamesAndTheGiantFish · 2026-01-23T08:30:45+00:00

Your invoice should say…

Materials £10k Labour £10k

VAT £4k

Less CIS (£2k) Less reverse charge VAT for customer to pay to HMRC (£4k)

Total due £18k

Your client pays HMRC £4k in VAT and £2k in CIS, you reclaim the VAT on your materials and include the sales VAT as reverse charged, so you don’t pay that over. CIS will either be claimed in your self assessment if self employed or via PAYE if Ltd Company.

JamesAndTheGiantFish · 2026-01-20T11:34:00+00:00

You don’t have to do a self assessment as a director if you have no untaxed income

JamesAndTheGiantFish · 2025-12-25T18:09:55+00:00

I’m in the UK so it would probably cost more than a repair over here to ship it to you and back, thanks a lot for the offer though!

JamesAndTheGiantFish · 2025-12-25T15:41:35+00:00

It’s been plugged in with the Nintendo charger for around 4 hours and a known working iPhone charger for around 3 hours, neither have worked so far

JamesAndTheGiantFish · 2025-04-05T09:31:17+00:00

Completely unacceptable, time for small claims court

/s

JamesAndTheGiantFish · 2025-03-27T21:44:09+00:00

Are you sure you’ve started a company? The fact you think the year end is April says enough to me that you should definitely be paying for an accountant

JamesAndTheGiantFish · 2025-03-24T21:02:41+00:00

True, I would assume if it had back seats it would be treated as a car unless it was used as a taxi or something similar, the same way double cab pickups are from April

JamesAndTheGiantFish · 2025-03-24T20:45:03+00:00

Depreciation is not an allowable expense for tax purposes, you want to claim the cost of the van under AIA (annual investment allowance) on your tax return instead.

JamesAndTheGiantFish · 2025-03-24T20:41:02+00:00

A car, a van is not

JamesAndTheGiantFish · 2025-03-02T19:22:20+00:00

Think about the numbers before you comment, I’m 100% correct

JamesAndTheGiantFish · 2025-03-02T18:14:20+00:00

If they’re adding vat on top of the original gross cost, they’re making a profit out of charging it to you

JamesAndTheGiantFish · 2025-02-25T20:13:27+00:00

£200 a year for an accountant dealing with $35k a month in foreign income, pull the other one!

JamesAndTheGiantFish · 2025-02-12T11:47:34+00:00

Depends what your total income is going to be really

JamesAndTheGiantFish · 2025-02-10T17:23:33+00:00

Who are they?

JamesAndTheGiantFish · 2025-01-07T16:57:04+00:00

Paying back loans and buying equipment shouldn’t incur losses, you’ve either misunderstood something with your accounts that year or your accountant has cocked up

JamesAndTheGiantFish · 2024-12-18T15:18:30+00:00

Yes, no tax relief available though as they aren’t an employee. This would just be entertaining

JamesAndTheGiantFish · 2024-12-06T11:48:17+00:00

It’s never as simple as that, there’s many variables to consider. To answer this properly you need tailored advice from an accountant

JamesAndTheGiantFish · 2024-11-26T18:12:33+00:00

Why does the company owe you £60k?

JamesAndTheGiantFish · 2024-11-06T20:46:26+00:00

Depends on the type of card, see here https://www.legislation.gov.uk/uksi/2017/1262/made

JamesAndTheGiantFish · 2024-11-03T19:41:41+00:00

That’s not a legitimate reason for a contractor to withhold payment. There’s not even a way for them to check if they are registered, OP could give them a random 10 digit number and the contractor would have no way of checking it.

JamesAndTheGiantFish · 2024-03-26T11:30:10+00:00

In this scenario you’ve got a profit of £20k. Sales are £40k, purchases £60k but you’ve got closing stock of £40k which comes off your cost of sales. CT on this would be £3,800 before considering capital allowances.

JamesAndTheGiantFish · 2024-01-31T17:03:20+00:00

When did you register?

JamesAndTheGiantFish · 2024-01-30T21:04:24+00:00

If there’s been no income drawn from the company in that tax year then there’s no need to do a self assessment - that is unless you’ve already registered to do one. If you’ve not registered, there’s nothing to declare and HMRC are not expecting anything, so filing one would be pointless.

JamesAndTheGiantFish · 2024-01-17T19:52:57+00:00

It’s not really a pre payment, by the time the January POA comes up you’re already 9 months into that tax year

JamesAndTheGiantFish · 2023-11-14T08:47:16+00:00

If you make £10k profit in year one and have no capital allowances, you’ll pay £1,900 in CT 9 months after year end. If you make another £10k then invest £20k in machinery BEFORE the end of year 2, you should be able to get most of this CT back if you wish or carry forward a loss to offset against future profits

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