Hairdresser's accounts : I am having a bad-hair day.
Hairdresser ... self-employed works in a (vat registered) salon and says she receives 50% of the takings for her work.
The only paperwork she managed to get from the salon was an invoice for the chair, for the whole tax year.
This invoice charged her VAT on the chair.
She says the amount shown on the invoice was the same as her earnings (50-50 split).
Would the Gross or net represent her takings?
If a customer asked for a vat receipt, would there only be vat on the salon's 50%?
The invoice for the chair also puzzles me.
Do I double the invoice value to get her turnover then deduct the invoice as expenses?
If the taking were split at the till, should she have received the vat invoice?
- break even point 950 29
- PAYE NI 32 1
- Liability account to deal with loans from owner 33 1
- Trustee in Bankruptcy 134 5
- Accomodation and travel 182 1
- Unpaid Fee's 269 6
- Issue with a software supplier 159 4
- Tax relief for backdated pension contributions 196 6
- Is there a requirement to clearly state the amount of a bill? 265 5
- Limited Company trading status. 217 6
- VAT flat rate scheme 83 1
- Failure to operate PAYE 1,580 29
- Alphabet shares dividend paperwork 126 2
- Aquisition Value 110 3
- Does anyone know how to deal with crowd funding income 375 8
- When should i raise VAT invoice after pro-forma payment received? 426 12
- Dividends 274 3
- SA302s - Lenders to accept non hmrc copies 799 13
- Collecting cash on behalf of another business 164 4
- HMRC Getting Extra Tough? 1,296 11
- Possible Partnership? 505
- Lunatics in charge of the asylum - Bluestone 485
- Tax and accounting treatment on long lease granted from freehold 462
- New Fangled Penalties 298
- Clubs and Taxable Income 255
- Purchase of property freehold - capitalisation of costs 253
- Deferring taxable income until after 5 April 243
- Loans to other companies 189
- Tasbook email configuration 178
- Closed PAYE schemes and auto enrolment 163