Home
Videos uploaded by user “callie timothy”
Tax Relief for Foster Carers
 
12:14
Tax Relief for Foster Carers- There are two elements to the relief: An exemption, if your total receipts from foster care do not exceed the ‘qualifying amount’ (explained below). The exemption is automatic and does not need to be claimed. http://callietimothy.com/ An optional simplified method of calculating profits if your receipts from foster care do exceed the qualifying amount.
Views: 3374 callie timothy
Record Keeping for the Self Employed
 
17:48
Record Keeping for the Self Employed You must keep records of your business income and outgoings for your Self Assessment return if you're self-employed as a: sole trader partner in a business partnership As a nominated partner you must keep records for the partnership itself. Records you must keep The records you must keep depend on whether you're using: traditional accounting cash basis or simplified expenses schemes - from the 2013 to 2014 tax year onwards Traditional accounting (accruals basis) Records for your tax return must include: a record of all your sales and takings a record of all your purchases and expenses This might include: business assets you've bought (eg stock, equipment) value of stock and work in progress at the end of your accounting period details of payments to employees (eg wages, expenses, benefits) http://youtu.be/Lktx2-gLWVw business vehicle and travel costs interest from any bank or building society accounts other money coming in, eg money you invest in your business Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 27441 callie timothy
National Insurance for the self employed - basics
 
02:57
National Insurance for the self employed - Self-employed tax and National Insurance If you're self-employed, you are responsible for paying your own tax and National Insurance contributions. You'll need to keep business records and details of your income so you can fill in an annual Self Assessment tax return. You may also need to register for VAT. http://youtu.be/b5wp22AJs28 Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 2639 callie timothy
Construction Industry Scheme for Sub Contractors   Pt 1
 
06:04
Construction Industry Scheme for Sub Contractors Pt 1Introduction to CIS - What is the Construction Industry Scheme? Deciding whether your work comes within CIS Are you a contractor or subcontractor under CIS? Employment Status Indicator tool Subcontractors responsibilities Subcontractor registration and obligations Getting paid and paying tax - advice for subcontractors Gross paid subcontractors and the annual compliance review Reporting changes to a subcontractor business Contractors responsibilities Contractor registration and obligations Verifying and paying subcontractors Using or dealing with subcontractor trading names Reporting changes to a contractor business Real Time Information main changes and the effects on CIS http://callietimothy.com/ https://www.facebook.com/callietimothyaccountants Construction Industry Scheme for Sub Contractors Pt 1 https://www.youtube.com/watch?v=NPI1BRzm1SY Construction Industry Scheme for Sub Contractors Pt 2 https://www.youtube.com/watch?v=f0oE4v7NklY Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 4871 callie timothy
Construction Industry Scheme for Sub Contractors   Pt 2
 
07:57
Construction Industry Scheme for Sub Contractors Pt 2 - CIS returns, payments and deductions Monthly returns and record keeping under CIS Understanding and using CIS online Login to CIS Online now Late returns and late return penalties under CIS Correcting monthly return and payment errors How to pay CIS deductions to HMRC if you're a contractor EDI filing for large contractors Company subcontractors paid under deduction Large businesses, public bodies and non-UK businesses Multiple contractor status for larger businesses under CIS CIS where construction isn't your main activity Public bodies and organisations under CIS How CIS applies to businesses based outside of the UK Reporting changes to a contractor business Agents Acting as a tax agent for a CIS contractor or subcontractor Managing agents and CIS http://callietimothy.com/ https://www.facebook.com/callietimothyaccountants Construction Industry Scheme for Sub Contractors Pt 1 https://www.youtube.com/watch?v=NPI1BRzm1SY Construction Industry Scheme for Sub Contractors Pt 2 https://www.youtube.com/watch?v=f0oE4v7NklY Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 4177 callie timothy
Tax and VAT issues when trading with countries outside the European Union
 
02:51
Tax and VAT issues when trading with countries outside the European Union - If you export goods to countries outside the EU (known as ‘third countries’), you must have the appropriate licences and make export declarations to customs through the National Export System (NES). You must also make sure that VAT, import taxes and duties in the destination country are paid where necessary, and follow transport procedures, though this is normally the responsibility of the importing person or company. There are a number of export procedures, such as duty relief schemes which can benefit businesses. VAT on exports and other taxes When a third country receives your goods, it may charge duty. A third country may also charge their own equivalent of VAT or purchase tax. http://www.hmrc.gov.uk/vat/managing/international/exports/goods.htm http://callietimothy.com/ You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 1696 callie timothy
Working for Yourself   How to Register with HMRC
 
05:28
When you set up your own business as a self-employed sole trader or in a partnership, you need to register for Self Assessment with HM Revenue & Customs (HMRC). HMRC will set up the right tax and National Insurance records for you and can help you understand what you need to know about tax and help you to get it right. If you are late in telling HMRC, you may incur a penalty. Not paying your National Insurance contributions puts your right to benefits at risk. You can find the form you need to register a new business for Self Assessment if you’re a self-employed sole trader or in a partnership at www.gov.uk/new-business-register-for-tax There are a number of online seminars to help you understand the different areas of starting a business. Visit www.hmrc.gov.uk/webinars/index.htm to see HMRC’s free online seminars (webinars). Visit: www.youtube.com/user/HMRCgovuk Topics include: • Business Allowances • Construction Industry Scheme • Corporation Tax • Employing other people (PAYE) • Income Tax for the self-employed • Importing and Exporting • National Insurance for the self-employed • Record keeping • Setting up in business • VAT The different types of tax and contributions you must pay depends on what you do. Section One of this booklet gives you more information on the different taxes and contributions http://callietimothy.com/ Subscribe to our channel: http://callietimothy.com/youtubesub This video clip is owned by the respective owners. No copyright infringement intended The information contained in this website is for general information purposes only. The information is provided by callietimothy.com and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Through this website you are able to link to other websites which are not under the control of callietimothy.com We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 1278 callie timothy
VAT Accounting Schemes
 
17:55
VAT Accounting Schemes - In contrast to standard VAT accounting, there are several alternative ways you can account for VAT that could save you time and money. Some of these VAT accounting schemes have been designed for specific trade sectors. Others have been designed to deal with more general business issues. Some of the schemes can be used together. Annual Accounting Scheme Cash Accounting Scheme Flat Rate Scheme VAT schemes for retailers Margin schemes for second-hand goods, art, antiques, collectibles Tour Operators' Margin Scheme You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 2403 callie timothy
Simpler Income Tax   Cash Basis and Simplified Expenses
 
23:29
Simpler Income Tax Cash Basis and Simplified Expenses - Income and expenses under cash basis Income With cash basis you only count the money you’ve actually received in a tax year. Any money you’re owed isn’t counted until you receive it. All payments count - cash, card, cheque, payment in kind or any other method. You can choose how you record when money is received or paid (eg the date the money enters or leaves your account or the date a cheque is written) but you must use the same method each tax year. Expenses Expenses are business costs you can deduct from your income to calculate your taxable profit. In practice, this means your allowable expenses reduce your Income Tax. You only count the expenses you’ve actually paid. Money you owe isn’t counted until you pay it. Examples of allowable business expenses if you’re using cash basis are: day to day running costs, eg electricity, fuel admin costs, eg stationery things you buy to sell on, eg stock things you use in your business, eg machinery, computers, vans interest and charges up to £500, eg interest on bank overdrafts For the 2013 to 2014 tax year you can also choose to use the simplified expenses scheme instead of calculating expenses for use of: vehicles working from home making adjustments for living on your business premises There are some types of expenses that you can’t claim, eg anything that’s not used by your business. Cars and other equipment If you buy a car for your business, you can claim the purchase as a capital allowance (but only if you’re not using simplified expenses to work out your business expenses for that vehicle). Unlike traditional accounting, you claim other equipment you buy to keep and use in your business as a normal allowable business expense rather than as a capital allowance. If you’re currently claiming capital allowances and want to switch to cash basis, HM Revenue and Customs (HMRC) have guidance on the changes you need to make. https://www.gov.uk/simpler-income-tax-cash-basis/income-and-expenses-under-cash-basis http://callietimothy.com/
Views: 1995 callie timothy
Choosing the Right Legal Structure for Your Business
 
02:22
Choosing the Right Legal Structure for Your Business - You must choose a structure for your business. This structure will define your legal responsibilities, like: the paperwork you must fill in to get started the taxes you’ll have to manage and pay how you can personally take the profit your business makes your personal responsibilities if your business makes a loss You can change your business structure after you’ve started up if you find a new structure suits you better or saves you money. Types of business The main types are: sole trader limited company business partnership You can form an ‘unincorporated association’ if you’re setting up a small organisation like a sports club or a voluntary group and don’t plan to make a profit. You can use other structures for businesses that help people or communities, eg ‘social enterprises’. https://www.gov.uk/business-legal-structures/overview http://callietimothy.com/ Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 991 callie timothy
Tax Relief for Shared Lives Carers
 
13:59
Tax Relief for Shared Lives Carers - The HMRC Tax Concession for Shared Lives Carers is given on the basis that the carer uses their own home in their work and includes the person they support in their family life. http://callietimothy.com/ It is a generous concession, similar to the agreement which exists for foster carers. People who provide care and support, but who do not use their own home or include someone in their family life are not entitled to the Shared Lives Tax concession. Some Shared Lives schemes provide non-Shared Lives services (such as domiciliary care) as well as their regulated Shared Lives service. These other services may be very valuable and share some of the values of Shared Lives, but the people employed in them would not be eligible for the Shared Lives tax concession. Source:http://www.sharedlivesplus.org.uk/support/tax-break
Views: 1690 callie timothy
Introduction to Effective Record Keeping
 
02:39
Introduction to Effective Record Keeping - Good records management is essential for any corporate body to function effectively. What is records management? Records management is the systematic control of an organisation's records, throughout their life cycle, in order to meet operational business needs, statutory and fiscal requirements, and community expectations. Why is records management necessary? Information is every organisation's most basic and essential asset, and in common with any other business asset, recorded information requires effective management. Records management ensures information can be accessed easily, can be destroyed routinely when no longer needed, and enables organisations not only to function on a day to day basis, but also to fulfil legal and financial requirements. Modern society has rising expectations concerning the accessibility of information. People now expect efficient and speedy responses to requests for information, and a policy of 'open government' has been followed and developed by several successive governments. The benefits of records management Systematic management of records allows organisations to: know what records they have, and locate them easily increase efficiency and effectiveness make savings in administration costs, both in staff time and storage support decision making be accountable achieve business objectives and targets provide continuity in the event of a disaster meet legislative and regulatory requirements, particularly as laid down by the Freedom of Information (Scotland) Act and the Data Protection Act protect the interests of employees, clients and stakeholders The importance of records can be put in context by events in South Africa where records of the proceedings of the Truth and Reconciliation Commission's hearing against President Botha about his actions during the period of apartheid have been destroyed, and therefore details of this historically important event lost forever in their original form. The principles of good records management The guiding principle of records management is to ensure that information is available when and where it is needed, in an organised and efficient manner, and in a well maintained environment. Organisations must ensure that their records are: Authentic It must be possible to prove that records are what they purport to be and who created them, by keeping a record of their management through time. Where information is later added to an existing document within a record, the added information must be signed and dated. With electronic records, changes and additions must be identifiable through audit trails. Accurate Records must accurately reflect the transactions that they document. Accessible Records must be readily available when needed. Complete Records must be sufficient in content, context and structure to reconstruct the relevant activities and transactions that they document. Comprehensive Records must document the complete range of an organisation's business. Compliant Records must comply with any record keeping requirements resulting from legislation, audit rules and other relevant regulations. Effective Records must be maintained for specific purposes and the information contained in them must meet those purposes. Records will be identified and linked to the business process to which they are related. Secure Records must be securely maintained to prevent unauthorised access, alteration, damage or removal. They must be stored in a secure environment, the degree of security reflecting the sensitivity and importance of the contents. Where records are migrated across changes in technology, the evidence preserved must remain authentic and accurate. The definition of 'document' and 'record' In records management it is important to be clear about the difference between a document and a recort. Some documents will need to be kept as evidence of business transactions, routine activities or as a result of legal obligations, such as policy documents. These should be placed into an official filing system and at this point, they become official records. In other words, all records start off as documents, but not all documents will ultimately become records. Source: http://www.nas.gov.uk/recordkeeping/recordsmanagement.asp Website: http://callietimothy.com/ Fanpage: https://www.facebook.com/callietimothyaccountants
Views: 5984 callie timothy
VAT   Now you are Registered
 
31:25
VAT Now you are Registered - One of the advantages of being registered is the ability to reclaim VAT on your own purchases (e.g. materials) for your business. Disadvantage is arguably that you have to submit VAT returns and you will have to apply VAT to your invoices which make your more expensive than others in case your customers can claim back this VAT. http://callietimothy.com/ More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 204 callie timothy
HMRC: Question -  Am I Trading or Not?
 
04:37
HMRC: Question - Am I Trading or Not? - How to decide if you're trading or not? Generally, you are trading if you: sell goods you have bought for resale make items yourself and sell them, intending to make a profit sell (or buy) goods on behalf of others for financial gain (for example on commission) provide a service and receive payment (whether in cash or in kind) If you are trading you may have to pay Income Tax, National Insurance Contributions and VAT, and HM Revenue & Customs (HMRC) will treat you as self-employed in that trade. But you are not trading if you: sell occasional, unwanted personal items through internet auctions or classified advertisements attend a car boot sale once a year to sell unwanted household items Even if you don't need to pay Income Tax you should still check if you need to pay other taxes or duties. Essentially, 'trade' is a two-way relationship between a trader and a customer, where the trader provides goods or services to the customer for reward on a commercial basis. To help decide whether a trade exists or not the courts have identified '9 indicators or badges'. It is not always easy to decide even using these 'badges', because a trade may exist even if only 1 or 2 of the indicators are present. Follow the link below to read some helpful trading examples.... http://www.hmrc.gov.uk/guidance/selling/badges.htm http://www.hmrc.gov.uk/guidance/selling/examples.htm Source: http://www.hmrc.gov.uk/guidance/selling/income.htm Website: http://callietimothy.com/
Views: 187 callie timothy
VAT and Motoring Expenses
 
12:19
VAT and Motoring Expenses more... http://customs.hmrc.gov.uk/ http://callietimothy.com/ You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 2475 callie timothy
An introduction to registering for Self Assessment
 
01:32
An introduction to registering for Self Assessment - http://callietimothy.com/ - If you are one of the 7 million or so UK Tax payers that are required to complete a self assessment tax return each year then this page may give you some assistance in completing this not so interesting task. The UK tax year runs from 6th April to 5th April each year and anyone who is required to complete a self assessment return must disclose all of their taxable income for this period. The majority of UK tax payers have their tax collected at source through the Pay as You Earn Scheme, whereby employers run a payroll scheme that deducts the correct amount of tax and national insurance each month. The employer is then legally obliged to pay this amount over to HMRC every month or every three months depending upon their size. This is the easiest and most efficient way of collecting tax; however it only works when the tax payers has full time employment and recovers the tax that is due through this employment. PAYE schemes do not and cannot recover tax that is due on income from other sources. This is where the Self Assessment Tax Return is required, it has a main tax return and up to 11 subsections to cover every eventuality of income that could be obtained and tax payable upon., below are the most common reasons why a tax payer would be required to complete a self assessment tax return · They have Income above £2,500 from Land or Property · They are a Company Director or If you are self employed · They have Income from a pension and a salary · They are a 40% income tax payer and have savings income · They receive income from investments that are not taxed at source · They receive Income from foreign sources · They have income subject to capital gains tax There are also various reliefs that can be claimed and again these are included in the tax return. It is possible to collect all the data that is required and submit your own tax return online through the HMRC website, although this is not the easiest way of doing things it does have the advantage of being free. The other way of getting this annual chore out of the way is to outsource it to a specialist who deals with self assessment tax returns, these specialists are often fully qualified accountants who choose to deal with personal tax affairs rather than general accountancy, they can provide excellent value for money compared to the traditional high street accountants who charge up to 4 times the amount of an online specialist. The tax return accountant will probably provide you with an end of year checklist to ensure that you do not miss anything of importance and will also ensure that you claim all the allowances that you are entitled to, this can be very helpful if you are a landlord and have property income as it is a specialist area and nor everyone who has buy to let income has the knowledge, nor wishes to acquire the knowledge of what is and is not allowable against rental income. Once all the income has been disclosed on the return, the tax return account will calculate the amount of tax that is due, discuss the return with you the client and submit the return online on your behalf. The online returns must be submitted by 31 January following the end of the tax year to which they relate. Online tax return accountants provide value for money and take away the strain of the annual tax return. Enter the search term on your favourite search engine and see what a difference a little bit of professional help can make. Article Source: http://EzineArticles.com/7077414 Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 204 callie timothy
How to Submit your VAT Return Online
 
03:55
How to Submit your VAT Return Online - Virtually all VAT-registered businesses must submit their VAT Returns online and pay any VAT due electronically. This guide explains how to do this. You (or your accountant, bookkeeper, or other agent) can opt to use either the free HM Revenue & Customs (HMRC) VAT Online service or commercial software. Submitting your return online is quick, convenient, reliable and secure. http://youtu.be/iTBwKdyI5Ww Once you have submitted your VAT Return to HMRC you will get an on-screen unique submission receipt reference number. It's a good idea to save or print a copy of this on-screen confirmation, as you will only receive an email confirmation of this receipt if you've registered your email address at the signing up stage for VAT online services or at a later date for VAT messages (this is a separate process to setting up an email address to receive the email VAT Return reminder). A copy of every VAT Return you submit online will be automatically saved on your VAT Online services account for a period of 15 months after submission. You can view your submitted returns from the left hand menu on the 'At a Glance' page by selecting the 'View submitted returns' link. You can also print off a copy of the submitted return and keep it with your other business records. Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 1629 callie timothy
Tax and VAT issues when trading with other countries using the Internet
 
04:02
Tax and VAT issues when trading with other countries using the Internet - Service exports make up about a quarter of UK international trade. UK businesses are major exporters in sectors such as financial services and consulting. UK businesses also buy services from overseas - such as outsourcing customer services to overseas suppliers. Telecommunications and IT make it quick and cost-effective to trade services internationally. Whether you are importing or exporting services, many of the same basic rules apply as for trade in goods. But there are key differences, from how services are marketed to the taxes and regulations that apply. UK-based services exporters may also benefit from the commitments of UK trading partners under the World Trade Organization’s (WTO) General Agreement on Trade in Services (GATS). The EU Services Directive has removed many barriers to service businesses established in a member state to easily provide services throughout the EU. http://callietimothy.com/ This guide highlights the special features of trading in services and how to approach exporting or importing them.
Views: 120 callie timothy
How to set up a Payroll System
 
01:57
How to set up a Payroll System - How to set up your payroll Checklist 1 Ensure that you are registered as an employer with HM Revenue & Customs (HMRC) and register for PAYE Online. 2 Decide who will be responsible for managing PAYE; consider whether you will operate PAYE yourself, use the services of a payroll agency or your accountant. 3 Invest in appropriate payroll software: checkit is compatible with HMRC’s ‘Real Time Information’ reporting requirements and how it could be linked into your accounting system. 4 Set up a payroll timetable include the dates for making payments to employees and HM Revenue & Customs, and handling year-end PAYE filings and employee documents. 5 Clarify the legal rules, and your contractual agreements, covering sick pay and maternity, paternity and adoption pay, pension contributions and deductions from pay. 6 Check employees’ data is accurate and complete; gather any missing information ready for submission to HMRC. 7 Establish a system for dealing with new employees, employees leaving, sickness, maternity, paternity and adoption leave. 8 Implement a system for calculating additional pay (eg bonuses and commission) and any taxable perks (eg company cars). 9 Decide how expenses will be handled. 10 Put security measures in place to protect the confidentiality of payroll information and guard against fraud. 11 Make contingency plans (eg if your computer system fails) to allow you to handle payroll and filings on time. 12 Use your payroll system to generate useful management information (eg employee costs, individual employees records). 13 Keep up to date with payroll rules by reading HMRC mailings; if necessary, contact the employers' helpline or your professional adviser. Source: http://www.startupdonut.co.uk/startup/employees/hiring-employees/how-to-set-up-your-payroll Website: http://callietimothy.com/
Views: 1908 callie timothy
An Introduction to Penalties for Inaccuracies in Documents and Returns
 
06:50
An Introduction to Penalties for Inaccuracies in Documents and Returns - http://callietimothy.com/ - A tax-geared penalty will apply in one of three circumstances that result in a potential loss of tax: When a taxpayer makes a careless error or mistake in a tax return o When HMRC raises an assessment for tax and the taxpayer fails to notify HMRC that the assessment is too lowr document. When a third party supplies false information, or deliberately withholds information in connection with another person’s return or document.. Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 33 callie timothy
Tax Self Assessment   Mini Q&A Ruth Owen
 
02:15
Tax Self Assessment Mini Q&A Ruth Owen Ruth Owen, HMRC's Director General for Personal Tax, with a reminder about submitting and paying self assessment tax returns by the due date, January 31st. Self Assessment involves completing a tax return each year. You show your income and capital gains (profits on the sale of certain assets) and claim tax allowances or reliefs on your tax return. This guide covers how to get a tax return, when to send it back and what happens if you don't. The term 'self assessment' is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex tax returns and often complete them incorrectly. In the first year of the regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time and some 400,000 incurred further penalties because their returns were still outstanding six months later! The constant stream of changes to the tax legislation means that not only are the returns becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly. http://youtu.be/v7aMwTqnnX4 We can save you a lot of time, worry and money by handling your self assessment for you. We will prepare all the necessary computations, complete your tax return and even offer advice on how you can minimise your tax liability. We can act as your agents in dealing directly with HMRC on your behalf. We also assist clients in dealing with any tax investigations and attend meetings with the tax inspectors. Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 207 callie timothy
What is VAT Value Added Tax (VAT) is a type of consumption tax
 
01:05
Looking to sort out http://callietimothy.com/ - What is VAT Value Added Tax (VAT) is a type of consumption tax ? https://www.facebook.com/callietimothyaccountants Businesses and consumers are charged with various forms of taxes and it is important to understand what we are being taxed for. Value Added Tax (VAT) is a type of consumption tax which is levied on different kinds of goods and services provided to consumers. Most of the revenue generated by businesses for the provision of goods and services are subject to tax. Therefore, the taxable portion of sales will be remitted to the Government in the form of VAT and other taxes for inputs and raw materials. For VAT, the tax is fully bared by the final consumers of the goods. Due to its importance as a major source of national income, most of the countries around the globe impose VAT, or similar form of taxes, on end consumers. What is VAT and when is VAT charged? VAT is levied on most business transactions and dealings across the entire value chain of the goods. In order to explain VAT better, let us use the example of a chocolate company. In the first stage of the value chain, the supplier will provide cocoa powder and other raw materials to the chocolate manufacturer. The cocoa powder will be sold for a profit which is inclusive of VAT to the manufacturer. The manufacturer then makes the chocolates and sells it to the retailer for a profit which also includes VAT. At the retail outlet or at shopping centers, retailers make the final stage of sales to the consumers. The final price of the product - which the consumer pays for - includes the payment for the chocolate and the total sum of VAT from the supplier right up to the user. Based on this example, we can see that VAT is paid by the final customers. Each entity in the value chain is required to remit their portion of VAT tax over to the Government. VAT rates and the categories of goods and services charged with VAT vary across the different nations. In the United Kingdom and some of its neighboring countries in the European Union, the standard VAT rate is 20 percent. But for certain categories of goods and service, a reduced VAT rate of 5 percent or a zero VAT rate of 0 percent might apply. Domestic fuel, sanitary hygiene goods and energy-saving equipment are charged with a 5 percent VAT rate. Newspapers, books, certain types of food and public transportation qualify for the 0 percent VAT rate. Certain goods and services are wholly exempted from VAT. This category of goods and services include education, insurance, medical treatment and fundraising. After understanding the basics of VAT, we are sure that you will have further questions about the topic. Other common questions regarding VAT includes the business registration for VAT, VAT payment and refunds and also VAT related notices, forms and application guidelines. VAT is a complicated tax matter for most people to understand. To read up more or to get professional help in regards to VAT, get in touch with your local tax agent or search for more information online. Article Source: http://EzineArticles.com/7212769 Subscribe to our channel: http://callietimothy.com/youtubesub This video clip is owned by the respective owners. No copyright infringement intended The information contained in this website is for general information purposes only. The information is provided by callietimothy.com and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Through this website you are able to link to other websites which are not under the control of callietimothy.com We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 3482 callie timothy
How cold calling done intelligently delivers incredible results
 
01:17
Cold Calling Done Intelligently Actually Delivers Incredible Sales Results http://newleadsacademy.com/about-us/ You may have noticed that specific attitudes and techniques simply will not work based on the following myths— "Cold Calling is a Numbers Game", "Use a sales script", "Focus on closing the sale". That is why I have developed a new cold calling approach that will automatically put you ahead of the game and in a league above your competition quickly It is an important technique in the selling process. It represents taking action. The skills are important in many parts of business and work communication However, it needs to be performed properly and not seen as a mere "numbers game" It needs to be seen as a fundamental and transferable and not merely a thankless task Such basic skills demonstrated in business arsenals of entrepreneurs. http://newleadsacademy.com/about-us/
Views: 153 callie timothy
Help and support for new and growing businesses
 
08:39
Help and support for new and growing businesses Resources: Help & Support: http://www.hmrc.gov.uk/startingup/help-support.htm Free Email Help: https://public-online.hmrc.gov.uk/business-emails/subscription Record Keeping Apps: http://www.hmrc.gov.uk/softwaredevelopers/mobile-apps/record-keeping.htm SME Twitter: @HMRCbusiness Plan for growth Once your business is established and you’re making a profit on the products and services you sell to customers, you may want to start thinking about how to grow. Many businesses think of growth in terms of increased sales, but it’s also important to focus on how to maintain or improve your profitability. Things you can do to help grow your business include: looking into ways of increasing your sales, both to existing customers and new customers improving your products and services by researching and testing changes with your customers developing new products and services, and selling them to new or existing markets taking on staff or training your current staff, including working with apprentices and mentors looking for additional sources of funding, such as bringing in new investors thinking about selling your products or services online work with a business mentor, who can help you think about how to do all of these things Source: https://www.gov.uk/growing-your-business/plan-for-growth Website: http://callietimothy.com/
Views: 48 callie timothy
What are Gross and Net Pay?
 
00:59
What are Gross and Net Pay? - Gross income is before taxes and deductions, and net income is after taxes and deductions. Gross pay is what you make before any deductions. If a job is advertised at 30,000 a year, then that's the gross pay. Net pay is what's left after taxes, health benefits and other deductions are taken out of your check. So gross pay of $30,000 would become something like net pay of 22,564. http://callietimothy.com/ You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 556 callie timothy
As a Man Thinketh   By James Allen Law Of Attraction
 
51:07
As a Man Thinketh By James Allen Law Of Attraction - "The thoughtless, the ignorant, and indolent, seeing only the apparent effects of things and not the things themselves, talk of law, of fortune, and chance. Seeing a man grow rich, they say, "How lucky is!" Observing another become intellectual they exclaim, "How highly favored he is!" And noting the saintly character and wide influence of another, they remark, "How chance aids him at every turn!" They don't see the trials and failures and the struggles which these men have voluntarily encountered in order to gain their experience; have no knowledge of the sacrifices they have made, of the undaunted efforts they have put forth, of the faith they have exercised, that they might overcome the apparently insurmountable, and realize the vision of their heart. They do not know the darkness and the heart aches; they only see the light and the Joy, and they call it "luck"; do not see the longing arduous journey, but only behold the pleasant goal, and call it "good fortune"; do not understand the process, but only perceive the result, and call it "chance".” "The circumstances which a man encounters with suffering are the result of his own mental inharmony". http://callietimothy.com/
Views: 145 callie timothy
Callie Timothy Introduction - Let Us Help You With Your Business
 
23:43
Callie Timothy Introduction - http://callietimothy.com/ - Callie Timothy supports corporate, private individuals and not-for-profit organisations across a number of sectors. With over 21 years of local and international business experience, we bridge the gap meeting your expectation. We understand the peculiar nature of our individual clients, and that is reason we tailor our services to suit their respective needs. Our team is made of experts in different areas of specialism with a strong commercial sense, which avails our clients the luxury and access to the right professional standard. We do work closely with clients taking into consideration their business objectives and goals. We keep abreast with the bigger picture, considering trends, developments, opportunities and treats as result of statutory changes as it may affect clients businesses. Our one-stop shop approach provides integrated solutions to meet your needs at every stage of your organisation’s development. Services  Accounts  Taxation  Audit  Rental Management.  Management Accounts.  Business System Appraisals  Business Plans  Bookkeeping  Payroll Bureau  Compliance (HMRC and Companies House)  Non-For-Profit business advice Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 206 callie timothy
Help for deaf customers Working for Yourself   How to Register with HMRC
 
11:01
Help for deaf customers Working for Yourself How to Register with HMRC HMRC contacts for self-employed: http://search.hmrc.gov.uk/kb5/hmrc/contactus/results.page?affinity=2042 If you're deaf, hard of hearing or have a speech impairment If you have a speech impairment, are deaf or hard of hearing and use a textphone you can contact HMRC by text relay or by textphone. Text Relay You can contact HMRC by dialling the text relay service prefix number 18001 followed by the HMRC telephone number. A full list of helplines can be found by following the contact HMRC link below. Source: http://www.hmrc.gov.uk/contactus/particular-needs.htm Webesite: http://callietimothy.com/
Views: 65 callie timothy
Interview with employers using RTI
 
02:13
Interview with employers using RTI - The aim of this research was to measure and provide insights into the RTI EOY experience and about the benefits and burdens for employers compared with reporting under the previous PAYE system. Both qualitative and quantitative research were used to meet the research objectives Where possible, the respondents for the quantitative research were the individuals who had already participated in the earlier research (assuming they had agreed to participate in future research) plus some further stage 3 pilot participants who had not been previously interviewed. A total of 756 telephone interviews were conducted between 19 June and 17 July 2013, with a response rate of 59%. The sample for the qualitative research consisted of a sub-sample of 28 of those employers who had been interviewed at the quantitative stage and who had agreed to further research. This sample was selected so as to provide a broad spread of employ ers on key demographic and attitudinal criteria. The qualitative interviews were carried out between 3 and 12 July 2013. 2.2. Key findings The anticipated benefits in previous research of an easier and less expensive EOY under RTI have generally been borne out. In-depth qualitative anal ysis of the customer journey revealed that RTI has reduced the burden on some employers by eliminat ing the most time-consuming parts of the current process. Those employers reporting technical difficulties or who were less confident about the EOY process going into it did have a less positive EOY experience. Ne vertheless they anticipated that next year will be better. Levels of confidence in understanding EOY requirements under RTI were generally high. Prior to EOY, 91% of employers were very (36%) or fairly (55%) co nfident of their understanding. Just 9% said that they were not confident. Post EOY, confidence ha d increased further such that 54% of employers were very confident that they had done everything requ ired and a further 41% of employers were fairly confident. Types of pilot employer who were less likely to be confident about EOY under RTI were micro businesses. This less confident group was also more likely than average to have sought support from HMRC (64% vs. only 48% of those who were very confident). This support would appear to have been effective because 72% of the not very/not at all confident group then rated themselves as either very or fairly confident post EOY. However, the channel of support employ ers were most likely to use to contact HMRC for support was the telephone (72%). Employers’ overall assessment of EOY under RTI was positive. Three-quarters of employers said that EOY had been either very (28%) or fairly (49%) easy to deal with under RTI. Only 9% said it had been difficult. Furthermore, over half of employers said that they found EOY under RTI easier to deal with than they expected and almost all said that they expe cted EOY to be either as easy, or easier, next year compared to this year. The types of employer who were less likely to find EOY easy/easier under RTI were the ones already highlighted as being less confident about EOY under RTI, namely micro businesses. Source: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/344755/report281.pdf Website: http://callietimothy.com/ Video: https://www.youtube.com/watch?v=VHC8fa5eqJk
Views: 18 callie timothy
Help from HMRC for Deaf Customers - Callie Timothy Limited
 
06:19
Help from HMRC for Deaf Customers - Callie Timothy Limited - If you're deaf, hard of hearing or have a speech impairment If you have a speech impairment, are deaf or hard of hearing and use a textphone you can contact HMRC by text relay or by textphone. Text Relay You can contact HMRC by dialling the text relay service prefix number 18001 followed by the HMRC telephone number. A full list of helplines can be found by following the contact HMRC link below. Contact: http://www.hmrc.gov.uk/contactus/particular-needs.htm Website: http://callietimothy.com/
Views: 40 callie timothy
What Records Do I Keep As A Self Employed Person
 
02:43
Subscribe to our channel: http://callietimothy.com/youtubesub Record keeping: good for us, good for your business Keeping records makes sound business sense. It may seem like a challenge, particularly when you're starting out, but keeping good records will bring real advantages to your business. Get a proper system in place from the outset, and update the information regularly. Keeping good records helps you avoid paying too much tax and makes filling in your tax return easier and quicker avoids interest and penalties by making it easier to pay the right tax at the right time gives you the information you need to manage your business and help it grow makes it easier to get a loan helps you budget for tax payments helps us to check your tax position accurately could help reduce your accountant's fees if you use one - well-organised information saves them time, too may support your claims to some reliefs or capital allowances. It makes sense to do it properly and make it as easy for yourself as possible. We can help you do this. If you have an accountant you might want to get his or her advice on what system suits your business and on how to keep your records up-to-date. http://callietimothy.com/ This video clip is owned by the respective owners. No copyright infringement intended The information contained in this website is for general information purposes only. The information is provided by callietimothy.com and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Through this website you are able to link to other websites which are not under the control of callietimothy.com We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 123 callie timothy

What the best essay writing service
Essays writing service
144 eme newsletter formats
Annotated bibliography example apa 6th edition format video
Termios sample cover letter