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?
- VAT on imports and the Flat Rate Scheme for VAT 167 9
- client threatening legal action 1,795 28
- Twenty signs your practice is bad at tax 677 8
- Partially exempt? 239 9
- Reclaiming EU VAT on fuel and expenses 87 1
- First VAT Visit for client 227 4
- Dividend in specie 226 7
- Lorry Drivers 136 2
- Redundancy payment added to p45 100 1
- Partnership registered in error. No activities with view to profit. 98 1
- Mexican student in UK 116 2
- PI insurance for Auto Enrolment 195 3
- Accounting Practice acting as an employment agency 300 12
- payroll software 129 1
- No Tax Returns submitted for last 16 years 1,052 25
- Complicated Company car purchase 109 1
- Pricing 333 10
- Late VAT registration penalty 251 5
- VAT 118 2
- QuickBooks, Xero, FreeAgent and ClearBooks 852 18
- Skandia using wrong address 489
- Does anyone use PS Financials accounting software out there? 278
- FHL, period of grace and Entrepreneur's relief 273
- Employee rewards 258
- Legislation access for part-time sole practitioner? 226
- Rental Property W&T And Equipment 217
- Gift of reversion and lease into trust by two different people - later PPR 214
- EPS Analysis - Change to EURO 213
- Etax Australian 172
- Annual Management Charge Rebates and Self Assessment Tax Return 160