Does anyone help me with Accounting for a client who is in the business of selling Plane Tickets. When I do the accounts do I show the whole Sales price as turnover or just the commission?
For VAT purposes, do I have to consider the full Sales Amount or just the commission? say if the Commission earned is less than £73k, can I avoid registering for VAT?
When the tickets are sold to the customer can the supplier charge VAT on it if he is registered for VAT, as ticketing is an exempt service for VAT? Also for an exempt trade ( travel ticketing), VAT can't be reclaimed on purchases right?
If he plans to add holiday packages - does he has to go on a Tour Operators scheme for VAT?
If you are in an Exempt VAT business , can you avoid registering for VAT even if your turnover is above the threshold? As you can't charge or reclaim any VAT?
Thanks for your help.
- Finding a Company UTR for a newly formed company 116 1
- Recomendations for a purchase order management book please? 115 1
- Instant CPD offer 279 4
- Cash basis 513 13
- Income from rent charged to business 119 2
- payroll software 364 3
- CIMA accountant wants to start consultancy 435 5
- Statutory sick pay 306 4
- Dividend in specie 367 9
- Complicated Company car purchase 219 2
- Ltd Company Buying Own Shares and Transferring Assets 174 3
- Retail vat schemes for a restaurant 145 1
- Rental Property W&T And Equipment 269 1
- Legislation access for part-time sole practitioner? 294 1
- Ownership of land - declaration of trust 164 3
- Fee base v staff ratio 381 6
- NIC thresholds - two employments 1,854 27
- Statutory Accounts - Dividends Disclosure Note 332 3
- Unincorporated organistion ceasing to exist 255 2
- Gift in kind to charity by company: services 106 1
- Skandia using wrong address 571
- FHL, period of grace and Entrepreneur's relief 306
- Does anyone use PS Financials accounting software out there? 303
- Employee rewards 288
- Gift of reversion and lease into trust by two different people - later PPR 250
- EPS Analysis - Change to EURO 227
- Etax Australian 186
- LLP in Construction Industry 152
- Selling On Amazon & Calculatign Prices/Vat 131
- Interest and late payment charges HMRC 130