hey Guys, I just setup a new account as I have gone from a Sole Trader to Ltd company. I am only a new company, but VAT returns and P30 returns are over due from the start of the year. I can I just mark these as paid or how so I cancel them?
hey Guys,
I just setup a new account as I have gone from a Sole Trader to Ltd company.
I am only a new company, but VAT returns and P30 returns are over due from the start of the year. I can I just mark these as paid or how so I cancel them?
I'll have a look at the P30's too.
Anyway I'll have a look it first thing in the am.
Thanks for singing up. Pete
I'll have a look at this now for you. Tks Pete
So I've some answers for you.
VAT
What we think might have happened is an invoice got created for Jan that would execute VAT generations for all the periods up to now.
I see all you invoices are close to today date, but it might have happened at the review stage.
The solution is pretty simple. Just click on the empty VAT periods and mark them as paid. They're Zero sum so it won't affect your bank reconciliation.
Here is how you do that here http://recordit.co/ontCDB7L12 & is now you mark them as paid.
P30's
So turns out you need to file P30's the minute you set-up a company. I'd forgotten about that, here is the community post on it. https://www.bullethq.com/community/question/hi-guys-quick-queary-ive-not-registered-any-employees-for-my-business-sole-trader-but-on-my-to-do-list-its-saying-that-i-should-fill-in-nil-p30-returns-im-not-sure-why-im/
It doesn't matter that they're empty or zero.
Paypal
We're still waiting for Paypal to come back to us. They're still investigating it.
Thanks
Pete
Thanks for the response.
On the paypal front, is the issue your having with them deal with their fees and accounting for that? For example is an invoice is sent for €500 to client, they pay it but only €480 is received to us from paypal into the bank account, how can this be accounted for without having to create a new expense each time for paypal fees?
Kind Regards
Let me find out about the fees or are we just not getting the "paid" message only, we do the fees automatically as you can see in the bottom gif Stripe works the same as Paypal.
I'll get back to you on that.
Pete
So you have to create a bill currently for the paypal fee. The fact Paypal doesn't notify us of the payment means we can't trigger the bill creation.
It take paypal 2 weeks to respond to any quiry we have so they're slow to deal with.
But we're chasing them.
Thanks P