If it’s for something that will be consumed / used in the next quarter or for longer period. You could you prepay the invoice over this period, meaning release the costs to the P&L accordingly, so it hits your Balance Sheet.
Hope it helps.
Thanks for your reply.
For eg.,
Let’s say we post water bill on Yorkshire water purchase ledger supplier account:
Nominal 2121, cost centre 240, amount £1000.
It gets paid on a regular bacs payment run.
How would the above effect the p&l and balance sheet?
I'm assuming you mean if he can claim the fees against their profit, and therefore reduce their tax bill?
If so, then as long as you are working in a relevant role to the ACC (which I assume you are), ad your employer pays for your fees, they can use these as an allowable expense and reduce their tax liability in the end.
Thanks for the reply.
So he can claim the fees against their profits as long as I work in the relevant role. I am working as a sole bookkeeper job title being Accounts Assistant, that I guess is in the relevant role. Could you please provide me with the relevant link which I can show it to him to prove it.
Thus it means that if he pays for all of my tuition fees (roughly £1100) which can then be classed as allowable expenses.
Who do you think your employer can claim the course fees from exactly?
Thanks for the reply.
Claiming VAT form the fees. He doesn't really want to pay for my fees. But if I give him the fees ( off records) excluding VAT and then he pays for whole of my fees (on record) and then claim the VAT as output VAT, which means I won't have to at least pay the VAT on my course. This is the minimum I would like.
Claiming VAT form the fees. He doesn't really want to pay for my fees. But if I give him the fees ( off records) excluding VAT and then he pays for whole of my fees (on record) and then claim the VAT as output VAT, which means I won't have to at least pay the VAT on my course. This is the minimum I would like.
So he can claim the fees against their profits as long as I work in the relevant role. I am working as a sole bookkeeper job title being Accounts Assistant, that I guess is in the relevant role. Could you please provide me with the relevant link which I can show it to him to prove it.
Thus it means that if he pays for all of my tuition fees (roughly £1100) which can then be classed as allowable expenses.
My answers
Release over 36 months and it doesn’t matter when you pay it.
If it’s for something that will be consumed / used in the next quarter or for longer period. You could you prepay the invoice over this period, meaning release the costs to the P&L accordingly, so it hits your Balance Sheet.
Hope it helps.
Thanks for your reply.
For eg.,
Let’s say we post water bill on Yorkshire water purchase ledger supplier account:
Nominal 2121, cost centre 240, amount £1000.
It gets paid on a regular bacs payment run.
How would the above effect the p&l and balance sheet?
Hopefully the above makes sense.
Thanks
From Employers Profit
Thanks for the reply.
So he can claim the fees against their profits as long as I work in the relevant role. I am working as a sole bookkeeper job title being Accounts Assistant, that I guess is in the relevant role. Could you please provide me with the relevant link which I can show it to him to prove it.
Thus it means that if he pays for all of my tuition fees (roughly £1100) which can then be classed as allowable expenses.
Regards
Who do you think your
Thanks for the reply.
Claiming VAT form the fees. He doesn't really want to pay for my fees. But if I give him the fees ( off records) excluding VAT and then he pays for whole of my fees (on record) and then claim the VAT as output VAT, which means I won't have to at least pay the VAT on my course. This is the minimum I would like.
Regards
Thanks for the reply.
Thanks for the reply.
Claiming VAT form the fees. He doesn't really want to pay for my fees. But if I give him the fees ( off records) excluding VAT and then he pays for whole of my fees (on record) and then claim the VAT as output VAT, which means I won't have to at least pay the VAT on my course. This is the minimum I would like.
Regards
Thanks for the reply.
Thanks for the reply.
So he can claim the fees against their profits as long as I work in the relevant role. I am working as a sole bookkeeper job title being Accounts Assistant, that I guess is in the relevant role. Could you please provide me with the relevant link which I can show it to him to prove it.
Thus it means that if he pays for all of my tuition fees (roughly £1100) which can then be classed as allowable expenses.
Regards