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Accounting & Pay for 1 week in the tax year

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    Accounting & Pay for 1 week in the tax year

    Hi, In the tax year of 2016/17 I only worked the final week of the year, (last week in April).

    My invoice for the year was 2,750+550 VAT= 3,300 in total.

    I am on the flat rate scheme @ 14%, what’s the treatment to get the maximum. Appreciate if someone could provide a breakdown. I have an accountant but as they were not with me during that period they want to charge me to provide that information.

    #2
    Originally posted by fwd View Post
    Hi, In the tax year of 2016/17 I only worked the final week of the year, (last week in April).

    My invoice for the year was 2,750+550 VAT= 3,300 in total.

    I am on the flat rate scheme @ 14%, what’s the treatment to get the maximum. Appreciate if someone could provide a breakdown. I have an accountant but as they were not with me during that period they want to charge me to provide that information.
    The last week in April is in this tax year, not last. The tax year runs to the 5th of April. If your work and invoice were after that, then they are in the current tax year.
    I'm perfect, in a very specific and limited way.
    Hands... out infractions
    Face... the music
    Space... between the ears

    Comment


      #3
      Originally posted by WTFH View Post
      The last week in April is in this tax year, not last. The tax year runs to the 5th of April. If your work and invoice were after that, then they are in the current tax year.
      My mistake, I worked the last week in March.

      Comment


        #4
        Originally posted by fwd View Post
        I was on the flat rate scheme @ 14.5%
        FTFY, guessing you're now just a "limited cost trader"

        Comment


          #5
          Originally posted by fwd View Post
          My mistake, I worked the last week in March.
          Who was your accountant for the previous year?
          I notice in another thread you were trying to do everything on your own.
          http://forums.contractoruk.com/accou...christmas.html

          Have you now got an accountant or are you still trying to do it yourself?
          I'm perfect, in a very specific and limited way.
          Hands... out infractions
          Face... the music
          Space... between the ears

          Comment


            #6
            Originally posted by SeanT View Post
            FTFY, guessing you're now just a "limited cost trader"
            yes

            Comment


              #7
              Originally posted by WTFH View Post
              Who was your accountant for the previous year?
              I notice in another thread you were trying to do everything on your own.
              http://forums.contractoruk.com/accou...christmas.html

              Have you now got an accountant or are you still trying to do it yourself?
              As stated, I have an accountant now.
              Appreciate if you can help if not can you please stop with the inquisition.

              Comment


                #8
                Originally posted by fwd View Post
                I have an accountant but as they were not with me during that period they want to charge me to provide that information.
                I'd be having words then. He might not have been engaged at that point but surely it's very little skin of his nose to help you out surely? If it is a complex question that's going to take time and cost then we are certainly not best placed to help.

                I've yet to have an accountant that wouldn't answer a simple question about something unrelated to the business year I'm in.
                'CUK forum personality of 2011 - Winner - Yes really!!!!

                Comment


                  #9
                  Originally posted by fwd View Post
                  As stated, I have an accountant now.
                  Appreciate if you can help if not can you please stop with the inquisition.
                  I certainly didnt expect an inquisition. Is your accountant Spanish?

                  What are his chief weapons?

                  Comment


                    #10
                    Originally posted by fwd View Post
                    As stated, I have an accountant now.
                    Appreciate if you can help if not can you please stop with the inquisition.
                    Are they a he or a she?
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

                    Comment

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