Pro Forma Invoices for Cleaning Services - Excel by nlh14837

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									GARBETTS - SMALL COMPANY ACCOUNTS SYSTEM




Company Name                                   Enter data in cell E6

Garbetts Client Reference                      Enter data in cell E8

Contractor Name                                Enter data in cell E10

Home Telephone                                 Enter data in cell E12

Site/mobile telephone                          Enter data in cell E14

E-mail                                         Enter data in cell E16


Quarter 1 period                               April, May June 2011              { Defaults pre set
Quarter 2 period                               July, Aug, Sep 2011               { these can be
Quarter 3 period                               Oct, nov, Dec 2011                { changed
Quarter 4 period                               Jan, Feb, March 2012              {
Quarter 5 period                               *                                 [

VAT REGISTRATION NUMBER                        * ENTER REG NUMBER HERE


For help and guidance visit        http://www.garbetts.com/download/pscaccountsformatuseagenotes.pdf

Please make sure you use the correct file name format, as per the usage notes.
Its is very important that the file you send is is prefixed with your client reference, the useage notes have the
full file naming protocols.

Please make sure you set your VAT rates up on the "VAT summaries and rates" tab, otherwise VAT will not show.

This sheet is designed to run on genuine Excel. Use on excel compatible products is not supported, and
may give rise to unpredictable results.

This is the 2011/12 version of the accounts template. Do not use after 31 March 2012

Please make sure you complete the year end questionnaire at your year end.

Please send the pre year end planning questionnaire to us after quarter 3.
Enter data in cell E6
VAT SUMMARY AND RATES

                  = boxes which need user entry - all others are automatic and should not be adjusted

This screen gives you a summary of your vat returns. It also allows you to specify whether you are using normal vat accounting or the flat rate scheme.

                                                                            Quarter 1       Quarter 2          Quarter 3        Quarter 4         Quarter 5
                                                                     April, May June July, Aug, Sep       Oct, nov, Dec      Jan, Feb,
                                                                           2011           2011                2011          March 2012             *

 Box 1             Output Vat                                                    -                 -                -                 -                  -
 Box 2             EC Imports                                                    -                 -                -                 -                  -
 Box 3             Output Vat + imports                                          -                 -                -                 -                  -
 Box 4             Inputs                                                        -                 -                -                 -                  -
 Box 5             Net vat due                                                   -                 -                -                 -                  -
 Box 6             Sales (net)                                                   -                 -                -                 -                  -
 Box 7             Expenses (net)                                                -                 -                -                 -                  -
 Box 8             EC sales                                                      -                 -                -                 -                  -
 Box 9             EC goods                                                      -                 -                -                 -                  -
VAT to gross income %                                                          0.00%             0.00%            0.00%             0.00%              0.00%
(if this % is more than your applicable Flat Rate percentage, then consider moving to flat rate)


VAT status                                                                         N                N                  N                 N                N
FRS % (where applicable)

Normal vat rate (overwrite if necessary)                                       20.0%           20.0%              20.0%             20.0%              20.0%

Enter Y for normal vat, N for not registered, F for registered and using Flat Rate Scheme
If using the flat rate scheme, enter the % underneath

Notes re the flat rate scheme

You must apply to HM Revenue & Customs if you wish to use the Flat Rate Scheme.

You must have written approval from HM Revenue & Customs to move on to or off of the FRS scheme, so you cannot change at random to suit each quarter.

To apply see:    HMRC Flat rate guide
or               VAT notice 733

Also see         http://www.garbetts.com/download/VATforPSCs.pdf

The typical FRS%s which may apply to PSCs are:


Any other activity not listed elsewhere                                      12.00%                      Remember there is a
Business services not listed elsewhere                                       12.00%                      1% discount in your first year of VAT registration
Computer repair services                                                     10.50%                      so you need to adjust the % used if it applies.
Financial services                                                           13.50%
Management consultancy                                                       14.00%
Computer and IT consultancy or data processing                               14.50%
 Enter data in cell E6                                                                                                                                                      Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                        April, May June 2011                                                                               01983 400350 office@garbetts.com
                                                                                                                                                                 Client Reference:                         Enter data in cell E8

 Contact details:                                                                                                                      Contract details (this quarter):
                                                                                                                                       Client/site/dates
 Contractor name:                                            Enter data in cell E10
 Home telephone:                                             Enter data in cell E12
 Site/Mobile telephone:                                      Enter data in cell E14
 E:Mail:                                                     Enter data in cell E16
                                                                                                                                                                         Vat rate in use          0.0%
                                                                                                                                                                           Vat method       Not Registered
                                                                                           Business        Cash/         Business        Business
                                                                                            current      personal       credit card       deposit
 Date                    Payee/payer                                     Chq no/ref        account £     account £      account £       accounts £         Totals £         Vat content £   Net amount £       Vat analysis         Detail
           a                                      b                          c                 d             e                f              g                h                   I               j                  k
 Balance at start of quarter                                                                                     -              -                   -              -                                -
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                              Click here for help    Click here for help
Income                                                                                                                                                                                                     (use right click and show comment if necessary)
(enter as positive)                                                                                                                                                -                 -              -
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(end of section - enter additional lines above)                                                                                                                    -                 -              -
 Quarter                Auto-calculation - mileage/nights away                                                   -                                                 -                 -              -            Auto calc

 Balance at end of quarter                                                                         -             -              -                   -              -                 -              -

 Balance per statement                                                                             -                                                -
 Difference (this line should be nil)                                                              -                            -                   -

                                                                                                                                                                                             nights away
                                                                                                                       Car passenger      motorcycle                          nights away from home (non
 Mileage etc                                                                Total          Car 1 miles   Car 2 miles       miles           miles           cycle miles     from home (UK)       UK)


 Mileage year to date (not including this quarter)                                               -             -
 Mileage this quarter                                                                            -             -                -                   -              -                 -              -
                                                                                                  Not           Not
 Engine size in CC                                                                           specified     specified                   No vat claim
 Vat recovery rate p per mile                                                                    -             -                               -

 Claim                                                                                -            -             -              -                   -              -                 -              -
 Vat on mileage (using IR advisory rates)                                             -            -             -                                  -
 (NB you must retain in your records vat invoices to support this vat)

 VAT return                                                                                                            Errors

 Box 1                  Output Vat                                                    -                                If there are any errors on your data, they will
 Box 2                  EC Imports                                                    -                                show in this box. Please correct them, or seek our advice.
 Box 3                  Output Vat + imports                                          -
 Box 4                  Inputs                                                        -
 Box 5                  Net vat due                                                   -
 Box 6                  Sales (net)                                                   -
 Box 7                  Expenses (net)                                                -
 Box 8                  EC sales                                                      -
 Box 9                  EC goods                                                      -
                                                                                                                       Date printed 13-Jul-11 15:31
 Enter data in cell E6                                                                                                                                                      Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                        July, Aug, Sep 2011                                                                                01983 400350 office@garbetts.com
                                                                                                                                                                 Client Reference:                         Enter data in cell E8

 Contact details:                                                                                                                      Contract details (this quarter):
                                                                                                                                       Client/site/dates
 Contractor name:                                            Enter data in cell E10
 Home telephone:                                             Enter data in cell E12
 Site/Mobile telephone:                                      Enter data in cell E14
 E:Mail:                                                     Enter data in cell E16
                                                                                                                                                                         Vat rate in use          0.0%
                                                                                                                                                                           Vat method       Not Registered
                                                                                           Business        Cash/         Business        Business
                                                                                            current      personal       credit card       deposit
 Date                    Payee/payer                                     Chq no/ref        account £     account £      account £       accounts £         Totals £         Vat content £   Net amount £       Vat analysis         Detail
           a                                      b                          c                 d             e                f              g                h                   I               j                  k
 Balance at start of quarter                                                                       -             -              -                   -              -                                -
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                              Click here for help    Click here for help
Income                                                                                                                                                                                                     (use right click and show comment if necessary)
(enter as positive)                                                                                                                                                -                 -              -
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(end of section - enter additional lines above)                                                                                                                    -                 -              -
 Quarter                Auto-calculation - mileage/nights away                                                   -                                                 -                 -              -            Auto calc

 Balance at end of quarter                                                                         -             -              -                   -              -                 -              -

 Balance per statement                                                                                                                              -
 Difference (this line should be nil)                                                              -                            -                   -

                                                                                                                                                                                             nights away
                                                                                                                       Car passenger      motorcycle                          nights away from home (non
 Mileage etc                                                                Total          Car 1 miles   Car 2 miles       miles           miles           cycle miles     from home (UK)       UK)


 Mileage year to date (not including this quarter)                                               -             -
 Mileage this quarter                                                                            -             -                -                   -              -                 -              -
                                                                                                  Not           Not
 Engine size in CC                                                                           specified     specified                   No vat claim
 Vat recovery rate p per mile                                                                    -             -                               -

 Claim                                                                                -            -             -              -                   -              -                 -              -
 Vat on mileage (using IR advisory rates)                                             -            -             -                                  -
 (NB you must retain in your records vat invoices to support this vat)

 VAT return                                                                                                            Errors

 Box 1                  Output Vat                                                    -                                If there are any errors on your data, they will
 Box 2                  EC Imports                                                    -                                show in this box. Please correct them, or seek our advice.
 Box 3                  Output Vat + imports                                          -
 Box 4                  Inputs                                                        -
 Box 5                  Net vat due                                                   -
 Box 6                  Sales (net)                                                   -
 Box 7                  Expenses (net)                                                -
 Box 8                  EC sales                                                      -
 Box 9                  EC goods                                                      -
                                                                                                                       Date printed 13-Jul-11 15:31
 Enter data in cell E6                                                                                                                                                 Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                    Oct, nov, Dec 2011                                                                                 01983 400350 office@garbetts.com
                                                                                                                                                             Client Reference:                        Enter data in cell E8

 Contact details:                                                                                                                  Contract details (this quarter):
                                                                                                                                   Client/site/dates
 Contractor name:                                            Enter data in cell E10
 Home telephone:                                             Enter data in cell E12
 Site/Mobile telephone:                                      Enter data in cell E14
 E:Mail:                                                     Enter data in cell E16
                                                                                                                                                                     Vat rate in use         0.0%
                                                                                                                                                                       Vat method      Not Registered
                                                                                       Business        Cash/         Business        Business
                                                                                        current      personal       credit card       deposit
 Date                    Payee/payer                                 Chq no/ref        account £     account £      account £       accounts £         Totals £        Vat content £   Net amount £       Vat analysis        Detail
          a                                       b                      c                 d             e                f              g                h                  I               j                  k
 Balance at start of quarter                                                                   -             -              -                   -              -                               -
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                        Click here for help     Click here for help
Income                                                                                                                                                                                                (use right click and show comment if necessary)
(enter as positive)                                                                                                                                            -                -              -
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(end of section - enter additional lines above)                                                                                                                -                -              -
 Quarter                Auto-calculation - mileage/nights away                                               -                                                 -                -              -            Auto calc

 Balance at end of quarter                                                                     -             -              -                   -              -                -              -

 Balance per statement                                                                                                                          -
 Difference (this line should be nil)                                                          -                            -                   -

                                                                                                                                                                         nights away    nights away
                                                                                                                   Car passenger      motorcycle                         from home      from home
 Mileage etc                                                             Total         Car 1 miles   Car 2 miles       miles           miles           cycle miles          (UK)         (non UK)


 Mileage year to date (not including this quarter)                                           -             -
 Mileage this quarter                                                                        -             -                -                 -                -                -              -
                                                                                              Not           Not                             No vat
 Engine size in CC                                                                       specified     specified                             claim
 Vat recovery rate p per mile                                                                -             -                                  -

 Claim                                                                            -            -             -              -                   -              -                -              -
 Vat on mileage (using IR advisory rates)                                         -            -             -                                  -
 (NB you must retain in your records vat invoices to support this vat)

 VAT return                                                                                                        Errors

 Box 1                  Output Vat                                                -                                If there are any errors on your data, they will
 Box 2                  EC Imports                                                -                                show in this box. Please correct them, or seek our advice.
 Box 3                  Output Vat + imports                                      -
 Box 4                  Inputs                                                    -
 Box 5                  Net vat due                                               -
 Box 6                  Sales (net)                                               -
 Box 7                  Expenses (net)                                            -
 Box 8                  EC sales                                                  -
 Box 9                  EC goods                                                  -
                                                                                                                   Date printed 13-Jul-11 15:31

 Please complete and send in your planning questionanaire at the end of this quarter, thank you!
 Enter data in cell E6                                                                                                                                                 Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                    Jan, Feb, March 2012                                                                               01983 400350 office@garbetts.com
                                                                                                                                                             Client Reference:                        Enter data in cell E8

 Contact details:                                                                                                                  Contract details (this quarter):
                                                                                                                                   Client/site/dates
 Contractor name:                                            Enter data in cell E10
 Home telephone:                                             Enter data in cell E12
 Site/Mobile telephone:                                      Enter data in cell E14
 E:Mail:                                                     Enter data in cell E16
                                                                                                                                                                     Vat rate in use         0.0%
                                                                                                                                                                       Vat method      Not Registered
                                                                                       Business        Cash/         Business        Business
                                                                                        current      personal       credit card       deposit
 Date                    Payee/payer                                 Chq no/ref        account £     account £      account £       accounts £         Totals £        Vat content £   Net amount £       Vat analysis        Detail
          a                                       b                      c                 d             e                f              g                h                  I               j                  k
 Balance at start of quarter                                                                   -             -              -                   -              -                               -
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                        Click here for help     Click here for help
Income                                                                                                                                                                                                (use right click and show comment if necessary)
(enter as positive)                                                                                                                                            -                -              -
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(end of section - enter additional lines above)                                                                                                                -                -              -
Expenses                                                                                                                                                       -                -              -
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(end of section - enter additional lines above)                                                                                                                -                -              -
 Quarter                Auto-calculation - mileage/nights away                                               -                                                 -                -              -            Auto calc

 Balance at end of quarter                                                                     -             -              -                   -              -                -              -

 Balance per statement                                                                                                                          -
 Difference (this line should be nil)                                                          -                            -                   -

                                                                                                                                                                         nights away    nights away
                                                                                                                   Car passenger      motorcycle                         from home      from home
 Mileage etc                                                             Total         Car 1 miles   Car 2 miles       miles           miles           cycle miles          (UK)         (non UK)


 Mileage year to date (not including this quarter)                                           -             -
 Mileage this quarter                                                                        -             -                -                 -                -                -              -
                                                                                              Not           Not                             No vat
 Engine size in CC                                                                       specified     specified                             claim
 Vat recovery rate p per mile                                                                -             -                                  -

 Claim                                                                            -            -             -              -                   -              -                -              -
 Vat on mileage (using IR advisory rates)                                         -            -             -                                  -
 (NB you must retain in your records vat invoices to support this vat)

 VAT return                                                                                                        Errors

 Box 1                  Output Vat                                                -                                If there are any errors on your data, they will
 Box 2                  EC Imports                                                -                                show in this box. Please correct them, or seek our advice.
 Box 3                  Output Vat + imports                                      -
 Box 4                  Inputs                                                    -
 Box 5                  Net vat due                                               -
 Box 6                  Sales (net)                                               -
 Box 7                  Expenses (net)                                            -
 Box 8                  EC sales                                                  -
 Box 9                  EC goods                                                  -
                                                                                                                   Date printed 13-Jul-11 15:31

 If this quarter is your year end, please complete the year end questionnare before sending the sheet to us at the quarter end! Thank you!
 Enter data in cell E6                                                                                                                                                 Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                    enter details in company information tab                                                           01983 400350 office@garbetts.com
                                                                                                                                                             Client Reference:                        Enter data in cell E8

 Contact details:                                                                                                                  Contract details (this quarter):
                                                                                                                                   Client/site/dates
 Contractor name:                                            Enter data in cell E10
 Home telephone:                                             Enter data in cell E12
 Site/Mobile telephone:                                      Enter data in cell E14
 E:Mail:                                                     Enter data in cell E16
                                                                                                                                                                     Vat rate in use         0.0%
                                                                                                                                                                       Vat method      Not Registered
                                                                                       Business        Cash/         Business        Business
                                                                                        current      personal       credit card       deposit
 Date                    Payee/payer                                 Chq no/ref        account £     account £      account £       accounts £         Totals £        Vat content £   Net amount £       Vat analysis        Detail
          a                                       b                      c                 d             e                f              g                h                  I               j                  k
 Balance at start of quarter                                                                   -             -              -                   -              -                               -
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                        Click here for help     Click here for help
Income                                                                                                                                                                                                (use right click and show comment if necessary)
(enter as positive)                                                                                                                                            -                -              -
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(end of section - enter additional lines above)                                                                                                                -                -              -
Expenses                                                                                                                                                       -                -              -
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(end of section - enter additional lines above)                                                                                                                -                -              -
 Quarter                Auto-calculation - mileage/nights away                                               -                                                 -                -              -            Auto calc

 Balance at end of quarter                                                                     -             -              -                   -              -                -              -

 Balance per statement                                                                                                                          -
 Difference (this line should be nil)                                                          -                            -                   -

                                                                                                                                                                         nights away    nights away
                                                                                                                   Car passenger      motorcycle                         from home      from home
 Mileage etc                                                             Total         Car 1 miles   Car 2 miles       miles           miles           cycle miles          (UK)         (non UK)


 Mileage year to date (not including this quarter)                                           -             -
 Mileage this quarter                                                                        -             -                -                 -                -                -              -
                                                                                              Not           Not                             No vat
 Engine size in CC                                                                       specified     specified                             claim
 Vat recovery rate p per mile                                                                -             -                                  -

 Claim                                                                            -            -             -              -                   -              -                -              -
 Vat on mileage (using IR advisory rates)                                         -            -             -                                  -
 (NB you must retain in your records vat invoices to support this vat)

 VAT return                                                                                                        Errors

 Box 1                  Output Vat                                                -                                If there are any errors on your data, they will
 Box 2                  EC Imports                                                -                                show in this box. Please correct them, or seek our advice.
 Box 3                  Output Vat + imports                                      -
 Box 4                  Inputs                                                    -
 Box 5                  Net vat due                                               -
 Box 6                  Sales (net)                                               -
 Box 7                  Expenses (net)                                            -
 Box 8                  EC sales                                                  -
 Box 9                  EC goods                                                  -
                                                                                                                   Date printed 13-Jul-11 15:31

 If this quarter is your year end, please complete the year end questionnare before sending the sheet to us at the quarter end! Thank you!
Enter data in cell E6
PERFORMANCE SUMMARY




                       = boxes which need user entry - all others are automatic and should not be adjusted

Summary                                         Quarter 1     Quarter 2              Quarter 3    Quarter 4    Quarter 5         Totals
                                         April, May June July, Aug, Sep          Oct, nov, Dec     Jan, Feb,
                                                    2011          2011                   2011    March 2012               *               £

Sales income                                          -                -                  -             -           -                 -
Interest received                                     -                -                  -             -           -                 -
Other income (non vat)                                -                -                  -             -           -                 -
Vat expense                                           -                -                  -             -           -                 -
Non vat expense                                       -                -                  -             -           -                 -
Salary                                                -                -                  -             -           -                 -
Dividend                                              -                -                  -             -           -                 -
PAYE/NI                                               -                -                  -             -           -                 -
VAT paid over                                         -                -                  -             -           -                 -
Corporation Tax                                       -                -                  -             -           -                 -
Personal Tax (Self Assessment)                        -                -                  -             -           -                 -
Directors account                                     -                -                  -             -           -                 -
Capital (vat)                                         -                -                  -             -           -                 -
Capital (non vat)                                     -                -                  -             -           -                 -
 Pension                                              -                -                  -             -           -                 -
 Auto calc                                            -                -                  -             -           -                 -
 Bf banks                                             -                -                  -             -           -
 cf Banks                                             -                -                  -             -           -


Profit and loss account                                                                                                                   £

Sales income           Received                                                                                                       -
                       Brought forward debtors                                                                                        -
                       Carried forward debtors                                                                                        -

                                                                                                                                      -
Other income                                                                                                                          -
Interest received                                                                                                                     -

                                                                                                                                      -
Overheads/expenses (vat and non vat)                                                                                                  -
Capital allowances (see note)                                                                                                         -

Adjustments (eg unpaid creditors - only needed if they are significant/material)

Operating profit                                                                                                                      -
Salaries                                                                                                                              -

Net profit                                                                                                                            -

Note - entry of brought forward and carried forward debtors - respectively amounts owed to the company at the start of the period and
now, is not essential but improves the accuracy of the figures for planning purposes. The brought forward debtor amount, if any, will
be on your annual accounts under "debtors". NB these amounts should be net of vat.

Note - capital allowance at 100% is given on this years expenditure. For ease of use previous years unrelieved expenditure is not
accounted for here but will be accounted for on your annual accounts and tax returns.

Directors account

Brought forward directors account                                                                                                     -
(this will be on your annual accounts, normally in the section marked creditors - if
it is in the section marked debtors, then your b/fwd directors account was overdrawn
so you need to enter a negative figure here)


Drawings               Q1                (a negative amount = net drawings)                                                           -
                       Q2                                                                                                             -
                       Q3                                                                                                             -
                       Q4                                                                                                             -
                       Q5                                                                                                             -
Personal tax           Q1                                                                                                             -
                       Q2                                                                                                             -
                       Q3                                                                                                             -
                       Q4                                                                                                             -
                       Q5                                                                                                             -
Cash expenses etc      Q1                (a positive amount = net expenses not reimbursed)                                            -
                       Q2                                                                                                             -
                       Q3                                                                                                             -
                       Q4                                                                                                             -
                       Q5                                                                                                             -

Current directors account position (positive = in credit directors account, negative = overdrawn)                                     -


NB amounts allocated within quarters to salary and dividend do not appear on directors account, as they are effectively pre-allocated.
Any balance on the directors account from un allocated drawings will potentially need to be covered by salary or dividend.

Tax Provisions

These are rough figures only, to help you plan.

Enter number of months income included in the sheet so far                                                                          12.00
(if this figure isn't correct, the allocation of allowances will be erroneous)

Corporation Tax                                                                                                                       -

Personal Tax on dividends                                                                                      Person 1       Person 2

Annual salary from your PSC                                                                                         -                 -
Estimated other taxable income annually (previous employments, rent, investments)                                   -                 -
(NB Its assumed other income is already taxed - this entry is for calculating tax bands only)
% shareholding in this company


Estimated tax on dividend to date                                                                                   -                 -
Garbetts

Pre year end tax planning questionnaire for PSCs 2011/12

Your Name                                                            Enter data in cell E10

Company Name                                                         Enter data in cell E6

Garbetts Reference for you                                           Enter data in cell E8

Please return by 14 February 2012 – thank you - If not returned by then we will
not be able to prepare a planning report for you.



1.IR35 status

It is your responsibility to decide the IR35 status of
contracts, in light of the contract wording, advice/reviews
received and similar. Please let us know whether:

- all contracts outside of IR35

- all contracts caught by IR35

- some contracts caught, others not caught – if so please set
out below which are caught and which are not

We are still able to review contracts for you, but please note
2011-12 reviews must be concluded before 28.2.11. For
more information on contract reviews, and a pre review
checklist visit (which must accompany all contracts for
review). £100+vat charge for contract reviews.

www.garbetts.com/download/IR35contractreviews.pdf
www.garbetts.com/download/contractreview.xls
www.garbetts.com/download/contractreview.pdf


2.Pension payments

Please let us have details of any pension payments you
currently make (we need annual or monthly contribution
amounts, policy name), showing separately:

- contributions to executive pension schemes by your
company
- contributions to personal pension schemes by your
company
- contributions to personal pension schemes paid from
private bank account

If you pay contributions for a spouse please let us have
similar information.

If you have a EPP please ask your IFA or pension company
if there is a minimum salary requirement – it is your
responsibility to ensure this is adhered to if there is.


3. Salary levels – self

We recommend, if outside of IR35, a default of £10k pa pro
rata if necessary, and subject to any pension funding
requirements.
If you want a different salary level please let us know. In
most cases the tax implications of dividend v salary are
neutral, but salary incurs an additional National Insurance
cost. The annual NI cost at different salary levels
(employers and employees NI) are:

Salary                                Employers and employees NI

£     7,000                                  £nil

£    10,000                           £     715

£    12,000                           £    1,231

£    18,000                           £    2,779

£    24,000                           £    4,327

£    30,000                           £    5,875

A salary of below £5,304 will jeopardise state
pension/benefit rights, but a salary of £7,072 will protect
these rights and leave no NI due. £7,224 is probably the
most efficient salary level in monetary terms, but is
sometimes seen as provocative. If you have previously
paid salaries at higher levels and wish to reduce to this
level, then we are happy to process this so long as you
accept the risk that it may be regarded as provocative.

It is sometimes argued that a "realistic" salary reduces the
risks of an IR35 investigation – there is no
evidence to support this. However a mnimum of £10,000
is recommended.

If you have an Executive Personal Pension plan, please ask
your IFA or pension company for the minimum salary
requirement.

If you have had a period of sickness or maternity (or a non
working spouse has) and wish to claim SSP or SMP, then
please let us have the appropriate medical certificates and
dates..


4. Salary and dividend levels – spouse

If you spouse does not other wise use his or her personal
allowances then we recommend a salary of £7,068 pa /
£589 p/m (11/12 rates)

Please advise if you would like a spouse salary on that
basis, or at another salary level.

If you have no spouse or wish to not claim any spouse
allowances, please let us know.

Please confirm your spouses income from sources other
than your company, so we can check share allocations are
efficient.

Spouse includes common law relationships and civil
partnerships.
5. Other income – self

Please advise estimated levels of any other 2011/12
income, i.e. apart from via your company, eg rental income,
bank interest, share dividends, pensions from former
employments.

IMPORTANT: If you started your PSC during 2011/12
please include details of earnings prior to starting the PSC
(per P45).


6.Projected company income and expenses January
– March 2012

Please let us have an estimate of your company income net
of vat for the January to March 2012 quarter – this is
particularly important if it income level has changed due to
new contracts, a period out of contract, etc.

This figure should comprise:
(i) invoices raised before 31/12/11 but paid after 1/1/12

(ii) invoices to be raised between 1/1/12 and 31/3/12, irrespective
of whether they will be paid by 31/03/12
(iii) invoices to be raised after 1/4/12 but in respect of work
carried out before 31/03/12

NB please exclude any income already included on this
spreadsheet at the time of sending to us - we are interested here
in income which has yet to be entered on the spreadsheet.

Please also let us know if you have any unusual expenses to
come through between now and 31 March, eg capital
investment in new equipment, and let us have details.

NB if your year end is not 31 March, we may need to
request further information from you.


7. Company accounts

If you have not already forwarded us your company
accounts information to 31 December 2011 (i.e. quarterly
vat papers, bank transactions, receipts, mileage log, etc) ,
please let us have these as soon as possible.

If you use our spreadsheet format (this sheet), then that's
all we need


8. Expenses

Please confirm that all travel and mileage expenses in the
company conform to the 24 month rule relating to
contracted time at the site. See
www.garbetts.com/download/expenses.pdf for more
information on expense claims and the 24 month rule.

Please advise whether (i) mobile phone accounts (ii) land
line accounts are in your own personal name or the
company name, and what percentages are claimed of each.


9. Life policies etc
Does your company pay for life insurance, health insurance
or similar on your behalf?

If so, please advise the payments under each policy, what
type of cover is provided (eg private medical, critical
illness, sickness, etc).

Importantly please advise whether the policy is in your
name or the company name – this effects its tax
allowability.

We need this information to establish any possible benefits
in kind. We do not recommend payment of such insurances
via your PSC.

We are not interested in professional indemnity insurance,
etc.


10. Changes in circumstances

If you have any imminent changes in circumstances, family
or business, please let us know.

Eg Marriage, propose to return to permanent employment,
seeking work abroad, etc


11. Shareholdings

Please list the shareholders in your company and the
percentage held by each.



12. Business reserves

Historically, the recommendation has always been to
restrict dividends to the lower of (i) the amount needed to
cover drawings / personal living expenses and (ii) the basic
rate tax band. Any unused funds being left in the company
to defer Higher Rate Tax.

Its becoming evident that whilst tax advantageous, this
strategy places funds at risk with respect to IR35 and a safer
strategy would be do maximise the dividend each year –
this minimising IR35 risk, but does increase the personal
tax liability, or, perhaps more correctly, advance the
personal tax liability.

Our briefing on this is at:

http://www.garbetts.com/download/dividendstrategy.pdf

Please let us know:

(a) would you like dividends maximised to minimise IR35
risk; or

(b) would you like to minimise / defer Higher Rate Tax,
accepting that this increases the IR35 risk?
GARBETTS
PERSONAL SERVICE COMPANIES
YEAR END INFORMATION 2011/12


This form is to help us process your year end easily and quickly - it should not take more than a few minutes to complete.

It only needs to be completed at your company year end (in most, but not all cases, 31 March)

If you use our spreadsheet pro-forma, then this form is all we need from you.

If however you do not use our spreadsheet pro-forma, then please see http://www.garbetts.com/download/yearendchecklist.pdf
for a checklist of what we require.

Your Name                                                               Enter data in cell E10

Company Name                                                            Enter data in cell E6

Garbetts Reference for you                                              Enter data in cell E8

IR35

Please confirm the IR35 status of income during the
financial year, i.e. all outside, all inside, mixed (in
which case give a break down of what is and isn't caught).

Debtors (sales income)                                                                                 Gross £      Vat £       Net £

Please provide a list of any amounts owed to
you by customers or agents in respect of work
invoiced before the year end.


Work in progress (sales income)                                                                        Gross £      Vat £       Net £

Please provide a list of any amounts owed to
you by customers or agents in respect of work
done but not invoiced before the year end.
The figure should be at expected sales value.
Do not worry about small amounts, eg 2 or 3 days work.


Creditors (suppliers)                                                                                  Gross £      Vat £       Net £

Please provide a list of any amounts owed by
you to suppliers in respect of invoices raised or
goods/services received prior to the year end.
Do not worry about small amounts, eg less than £50

Expenses (from yourself)                                                                               Gross £      Vat £       Net £

Please provide details of any expenses to be reclaimed
from the company which are not yet on your quarterly
spreadsheet/in your accounting records (in most cases
this should be nil).

Use of home allowance

Please enter any amount to be claimed -        See notes below
This will be adjusted via your directors account.

Use of home allowance - notes on claiming.                 HMRC will allow a reasonable claim to use of home as office claim where you
carry out "substantive" (i.e. fee earning) duties at home. Administrative duties, in their eyes do not count as substantive. In terms of the
amount of any claim, where administrative duties are undertaken at home, then £3 p/w / £156 pa can be claimed without further
evidence. If you carry out substantive duties, and wish to claim over that amount, then the claim can be a proportion of the following costs:
Heat and light, home phone (if not already claimed on business), household insurance, cleaning and miscellaneous running
costs, Water, Council Tax and mortgage interest (not capital). These amounts should then be apportioned by reference
to (i) the number of rooms in the house (excluding kitchens, hallways and bathrooms) and (ii) the proportion of business use. EG
if 1 room of 5 is used 50% of the time for business, the claim will be household running costs x 1/5 x 50%. Claiming a use of home
as office figure does not impact on the long term capital gains tax status of your home, nor make you liable for business rates.

Year end bank balance                                                   Account number/name                                      balance £

Please list the account number and bank statement balance
on the last day of the year on all business bank accounts,
including deposit accounts.

Dividend strategy

Would you prefer (I) to have the lowest possible dividend, and
defer any Higher Rate Tax on retained profit or (ii) to maximise Please select:                        Lowest dividend
the dividend meaning that retained profit moves to the directors                                       Maximise dividend
account for drawing against, but Higher Rate Tax may be
accelerated. (ii) can help protect retained profit against risks
such as litigation and back taxes (eg IR35 status dispute).
PLEASE CAREFULLY STUDY OUR GUIDANCE ON DIVIDEND STRATEGY PRIOR
TO INSTRUCTING US:                http://www.garbetts.com/download/dividendstrategy.pdf

DECLARATION

By inserting my name in this box, I confirm everything is
complete and that Garbetts can prepare the year end accounts.
I Understand that there will be a charge of £50+ vat if, after having
been sent to me, the approval accounts need to be amended as
a result of omissions from, or errors in the information submitted.
EXAMPLE - NORMAL VAT

 XYZ CONTRACTORS LIMITED                                                                                                                                             Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                  AMJ 2011                                                                                         01983 400350 office@garbetts.com
                                                                                                                                                            Client Reference:                      A123

 Contact details:                                                                                                                Contract details (this quarter):
                                                                                                                                 Client/site/dates
 Contractor name:                                        Roger Rabbit
 Home telephone:                                         01234 567890
 Site/Mobile telephone:                                  01234 567890
 E:Mail:                                                 roger@thewarren.rabbitnet.co.uk

                                                                                                                                                                   Vat method      Normal
                                                                                     Business        Cash/        Business         Business
                                                                                      current      personal      credit card        deposit
 Date                   Payee/payer                             Chq no/ref           account £     account £     account £         acounts £         Totals £      Vat content £   Net amount £         Vat analysis        Detail
            a                                     b                 c                    d             e               f               g                h                I               j                   k
 Balance at start of quarter                                                          1,001.00                            -         15,550.00        16,551.00                       16,551.00
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                      Click here for help     Click here for help
Income                                                                                                                                                                                             (use right click and show comment if necessary)
(enter as positive)                                                                                                                                        -                -              -
                                                                                                                                                           -                -              -
       4/1/2011        A Agency                        Invoice 001                    4,500.00                                                        4,500.00           750.00       3,750.00        Sales income
       4/5/2011        Personal account (loan to company)                               500.00                                                          500.00              -           500.00     Directors account
       5/2/2011        A Agency                        Invoice 002                    4,800.00                                                        4,800.00           800.00       4,000.00        Sales income
       6/1/2011        The Bank PLC                                                       0.12                                               5.60         5.72              -             5.72      Interest received
      6/30/2011        A Agency                        Invoice 003                    4,000.00                                                        4,000.00           666.67       3,333.33        Sales income
       4/2/2011        Transfer to c/a                                                5,000.00                                       (5,000.00)            -                -              -
      5/30/2011        Tax refunded                                                     400.00                                                          400.00              -           400.00
                                                                                                                                                                                             Personal Tax (Self Assessment)
                                                                                                                                                           -                -              -
                                                                                                                                                           -                -              -
(end of section - enter additional lines above)                                                                                                            -                -              -
Expenses                                                                                                                                                   -                -              -
(enter as negative)                                                                                                                                        -                -              -
                                                                                                                                                           -                -              -
                                                                                                                                                           -                -              -
       4/3/2011        VAT paid                                                         (689.00)                                                       (689.00)             -          (689.00)      VAT paid over
       4/3/2011        PAYE                                                             (500.00)                                                       (500.00)             -          (500.00)         PAYE/NI
       4/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)             -        (2,500.00)         Dividend
       4/4/2011        Salary                                                           (500.00)                                                       (500.00)             -          (500.00)           Salary
       4/5/2011        Garbetts                                                          (80.00)                                                        (80.00)          (13.33)        (66.67)       Vat expense
      4/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)             -          (100.00)          Pension
      4/29/2011        Every phone                                                       (89.00)                                                        (89.00)          (14.83)        (74.17)       Vat expense        Mobile phone
      4/30/2011        Postage for month                                                               (10.00)                                          (10.00)             -           (10.00)     Non vat expense
      4/30/2011        Stationary for month                                                            (26.00)                                          (26.00)           (4.33)        (21.67)       Vat expense
       5/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)             -        (2,500.00)         Dividend
       5/4/2011        Salary                                                           (500.00)                                                       (500.00)             -          (500.00)           Salary
       5/5/2011        Garbetts                                                          (80.00)                                                         80.00            13.33          66.67        Vat expense
      5/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)             -          (100.00)          Pension
      5/29/2011        Every phone                                                       (75.00)                                                        (75.00)          (12.50)        (62.50)       Vat expense
      5/29/2011        Rail fare                                                                                      (54.00)                           (54.00)             -           (54.00)     Non vat expense      Interview
      5/30/2011        Postage for month                                                                (5.00)                                           (5.00)             -            (5.00)     Non vat expense
      5/30/2011        Stationary for month                                                            (10.00)                                          (10.00)           (1.49)         (8.51)       Vat expense
      5/10/2011        Transfer to deposit account                                    (4,000.00)                                      4,000.00             -                -              -
      5/30/2011        PC Galore                                                                                     (999.00)                          (999.00)         (166.50)       (832.50)        Capital (vat)     New Laptop
      5/30/2011        Peripherals Galore                                                                            (125.00)                          (125.00)             -          (125.00)     Capital (non vat)    Printer
      5/30/2011        Software Galore                                                                (250.00)                                         (250.00)          (41.67)       (208.33)       Vat expense        Contract speed software
       6/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)             -        (2,500.00)         Dividend
       6/4/2011        Salary                                                           (500.00)                                                       (500.00)             -          (500.00)           Salary
       6/5/2011        Garbetts                                                          (80.00)                                                         80.00            13.33          66.67        Vat expense
      6/10/2011        Pay credit card                                                (1,178.00)                    1,178.00                               -                -              -
      6/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)             -          (100.00)          Pension
      6/29/2011        Every phone                                                       (62.00)                                                        (62.00)          (10.33)        (51.67)       Vat expense
      6/30/2011        Rail fare                                                                                      (58.00)                           (58.00)             -           (58.00)     Non vat expense
      6/30/2011        Postage for month                                                                (6.50)                                           (6.50)             -            (6.50)     Non vat expense
      6/30/2011        Stationary for month                                                             (3.25)                                           (3.25)           (0.54)         (2.71)       Vat expense
      6/30/2011        Bank charges                                                     (100.00)                                                       (100.00)             -          (100.00)     Non vat expense
      6/30/2011        Pay expenses to self                                             (425.75)      425.75                                               -                -              -
                                                                                                                                                           -                -              -
(end of section - enter additional lines above)                                                                                                            -                -              -
 Quarter               Auto-calculation - mileage/nights away                                         (115.00)                                         (115.00)           (3.28)       (111.72)         Auto calc

 Balance at end of quarter                                                            3,542.37             -          (58.00)       14,555.60        18,359.97        1,974.52       16,385.45

 Balance per statement                                                                3,542.37                        (58.00)       14,555.60
 Difference (this line should be nil)                                                      -                             -                -
                                                                                                                                                                                     nights away
                                                                                                                 Car passanger      motorcycle                        nights away from home (non
 Mileage etc                                                       Total             Car 1 miles   Car 2 miles       miles            miles          cycle miles   from home (UK)        UK)


 Mileage year to date (not including this quarter)                                          500           -
 Mileage this quarter                                                                       100           150             -                   -              -                3             -

                                                                                               Petrol<1400
 Engine size in CC                                                                  LPG<1400cc           cc                      No vat claim
 Vat recovery rate p per mile                                                             0.07        0.11                               -

 Claim                                                                     115.00         40.00         60.00             -                   -              -            15.00             -
 Vat on mileage (using IR advisory rates)                                    3.28          1.04          2.23                                 -


 VAT return                                                                                                      Errors

 Box    1              Output Vat                                      2,216.67                                  If there are any errors on your data, they will
 Box    2              EC Imports                                           -                                    show in this box. Please correct them, or seek our advice.
 Box    3              Output Vat + imports                            2,216.67
 Box    4              Inputs                                           (242.15)
 Box    5              Net vat due                                     1,974.52
 Box    6              Sales (net)                                    11,083.33
 Box    7              Expenses (net)                                 (1,665.61)
 Box    8              EC sales                                             -
 Box    9              EC goods                                             -
EXAMPLE - FLAT RATE VAT (12%)
 XYZ CONTRACTORS LIMITED                                                                                                                                             Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                  AMJ 2011                                                                                         01983 400350 office@garbetts.com
                                                                                                                                                            Client Reference:                      A123

 Contact details:                                                                                                                Contract details (this quarter):
                                                                                                                                 Client/site/dates
 Contractor name:                                        Roger Rabbit
 Home telephone:                                         01234 567890
 Site/Mobile telephone:                                  01234 567890
 E:Mail:                                                 roger@thewarren.rabbitnet.co.uk

                                                                                                                                                                   Vat method      Flat Rate
                                                                                     Business        Cash/        Business         Business
                                                                                      current      personal      credit card        deposit
 Date                   Payee/payer                             Chq no/ref           account £     account £     account £         acounts £         Totals £      Vat content £   Net amount £         Vat analysis        Detail
            a                                     b                 c                    d             e               f               g                h                I               j                   k
 Balance at start of quarter                                                          1,001.00                            -         15,550.00        16,551.00                       16,551.00
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                      Click here for help     Click here for help
Income                                                                                                                                                                                             (use right click and show comment if necessary)
(enter as positive)                                                                                                                                        -               -               -
                                                                                                                                                           -               -               -
       4/1/2011        A Agency                        Invoice 001                    4,500.00                                                        4,500.00          652.50        3,847.50        Sales income
       4/5/2011        Personal account (loan to company)                               500.00                                                          500.00             -            500.00     Directors account
       5/2/2011        A Agency                        Invoice 002                    4,800.00                                                        4,800.00          696.00        4,104.00        Sales income
       6/1/2011        The Bank PLC                                                       0.12                                               5.60         5.72             -              5.72      Interest received
      6/30/2011        A Agency                        Invoice 003                    4,000.00                                                        4,000.00          580.00        3,420.00        Sales income
       4/2/2011        Transfer to c/a                                                5,000.00                                       (5,000.00)            -               -               -
      5/30/2011        Tax refunded                                                     400.00                                                          400.00             -            400.00
                                                                                                                                                                                             Personal Tax (Self Assessment)
                                                                                                                                                           -               -               -
                                                                                                                                                           -               -               -
(end of section - enter additional lines above)                                                                                                            -               -               -
Expenses                                                                                                                                                   -               -               -
(enter as negative)                                                                                                                                        -               -               -
                                                                                                                                                           -               -               -
                                                                                                                                                           -               -               -
       4/3/2011        VAT paid                                                         (689.00)                                                       (689.00)            -           (689.00)      VAT paid over
       4/3/2011        PAYE                                                             (500.00)                                                       (500.00)            -           (500.00)         PAYE/NI
       4/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)            -         (2,500.00)         Dividend
       4/4/2011        Salary                                                           (500.00)                                                       (500.00)            -           (500.00)           Salary
       4/5/2011        Garbetts                                                          (80.00)                                                        (80.00)            -            (80.00)       Vat expense
      4/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)            -           (100.00)          Pension
      4/29/2011        Every phone                                                       (89.00)                                                        (89.00)            -            (89.00)       Vat expense        Mobile phone
      4/30/2011        Postage for month                                                               (10.00)                                          (10.00)            -            (10.00)     Non vat expense
      4/30/2011        Stationary for month                                                            (26.00)                                          (26.00)            -            (26.00)       Vat expense
       5/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)            -         (2,500.00)         Dividend
       5/4/2011        Salary                                                           (500.00)                                                       (500.00)            -           (500.00)           Salary
       5/5/2011        Garbetts                                                          (80.00)                                                        (80.00)            -            (80.00)       Vat expense
      5/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)            -           (100.00)          Pension
      5/29/2011        Every phone                                                       (75.00)                                                        (75.00)            -            (75.00)       Vat expense
      5/29/2011        Rail fare                                                                                      (54.00)                           (54.00)            -            (54.00)     Non vat expense      Interview
      5/30/2011        Postage for month                                                                (5.00)                                           (5.00)            -             (5.00)     Non vat expense
      5/30/2011        Stationary for month                                                            (10.00)                                          (10.00)            -            (10.00)       Vat expense
      5/10/2011        Transfer to deposit account                                    (4,000.00)                                      4,000.00             -               -               -
      5/30/2011        PC Galore                                                                                     (999.00)                          (999.00)            -           (999.00)        Capital (vat)     New Laptop
      5/30/2011        Peripherals Galore                                                                            (125.00)                          (125.00)            -           (125.00)     Capital (non vat)    Printer
      5/30/2011        Software Galore                                                                (250.00)                                         (250.00)            -           (250.00)       Vat expense        Contract speed software
       6/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)            -         (2,500.00)         Dividend
       6/4/2011        Salary                                                           (500.00)                                                       (500.00)            -           (500.00)           Salary
       6/5/2011        Garbetts                                                          (80.00)                                                        (80.00)            -            (80.00)       Vat expense
      6/10/2011        Pay credit card                                                (1,178.00)                    1,178.00                               -               -               -
      6/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)            -           (100.00)          Pension
      6/29/2011        Every phone                                                       (62.00)                                                        (62.00)            -            (62.00)       Vat expense
      6/30/2011        Rail fare                                                                                      (58.00)                           (58.00)            -            (58.00)     Non vat expense
      6/30/2011        Postage for month                                                                (6.50)                                           (6.50)            -             (6.50)     Non vat expense
      6/30/2011        Stationary for month                                                             (3.25)                                           (3.25)            -             (3.25)       Vat expense
      6/30/2011        Bank charges                                                     (100.00)                                                       (100.00)            -           (100.00)     Non vat expense
      6/30/2011        Pay expenses to self                                             (425.75)      425.75                                               -               -               -
                                                                                                                                                           -               -               -
(end of section - enter additional lines above)                                                                                                            -               -               -
 Quarter               Auto-calculation - mileage/nights away                                         (115.00)                                         (115.00)            -           (115.00)         Auto calc

 Balance at end of quarter                                                            3,542.37             -          (58.00)       14,555.60        18,039.97        1,928.50       16,111.47

 Balance per statement                                                                3,542.37                        (58.00)       14,555.60
 Difference (this line should be nil)                                                      -                             -                -
                                                                                                                                                                                     nights away
                                                                                                                 Car passanger      motorcycle                        nights away from home (non
 Mileage etc                                                       Total             Car 1 miles   Car 2 miles       miles            miles          cycle miles   from home (UK)        UK)


 Mileage year to date (not including this quarter)                                          500           -
 Mileage this quarter                                                                       100           150             -                   -              -                3             -

                                                                                               Petrol<1400
 Engine size in CC                                                                  LPG<1400cc           cc                      No vat claim
 Vat recovery rate p per mile                                                             0.07        0.11                               -

 Claim                                                                     115.00         40.00         60.00             -                   -              -            15.00             -
 Vat on mileage (using IR advisory rates)                                    3.28          1.04          2.23                                 -


 VAT return                                                                                                      Errors

 Box    1              Output Vat                                      1,928.50                                  If there are any errors on your data, they will
 Box    2              EC Imports                                           -                                    show in this box. Please correct them, or seek our advice.
 Box    3              Output Vat + imports                            1,928.50
 Box    4              Inputs                                               -
 Box    5              Net vat due                                     1,928.50
 Box    6              Sales (net)                                    13,300.00
 Box    7              Expenses (net)                                       -
 Box    8              EC sales                                             -
 Box    9              EC goods                                             -
EXAMPLE - NOT VAT REGISTERED
 XYZ CONTRACTORS LIMITED                                                                                                                                             Client of: Garbetts, Chartered Certified Accountants
 QUARTERLY TRANSACTION REPORT FOR:                                                  AMJ 2011                                                                                          01983 400350 office@garbetts.com
                                                                                                                                                            Client Reference:                      A123

 Contact details:                                                                                                                Contract details (this quarter):
                                                                                                                                 Client/site/dates
 Contractor name:                                        Roger Rabbit
 Home telephone:                                         01234 567890
 Site/Mobile telephone:                                  01234 567890
 E:Mail:                                                 roger@thewarren.rabbitnet.co.uk

                                                                                                                                                                   Vat method       Not Registered
                                                                                     Business        Cash/        Business         Business
                                                                                      current      personal      credit card        deposit
 Date                   Payee/payer                             Chq no/ref           account £     account £     account £         acounts £         Totals £      Vat content £    Net amount £        Vat analysis        Detail
            a                                     b                 c                    d             e               f               g                h                I                j                  k
 Balance at start of quarter                                                          1,001.00                            -         15,550.00        16,551.00                       16,551.00
(enter overdrafts/card balances owed as negatives)
                                                                                                                                                                                                      Click here for help     Click here for help
Income                                                                                                                                                                                             (use right click and show comment if necessary)
(enter as positive)                                                                                                                                        -                -               -
                                                                                                                                                           -                -               -
       4/1/2011        A Agency                        Invoice 001                    4,500.00                                                        4,500.00              -          4,500.00         Sales income
       4/5/2011        Personal account (loan to company)                               500.00                                                          500.00              -            500.00       Directors account
       5/2/2011        A Agency                        Invoice 002                    4,800.00                                                        4,800.00              -          4,800.00         Sales income
       6/1/2011        The Bank PLC                                                       0.12                                               5.60         5.72              -              5.72       Interest received
      6/30/2011        A Agency                        Invoice 003                    4,000.00                                                        4,000.00              -          4,000.00         Sales income
       4/2/2011        Transfer to c/a                                                5,000.00                                       (5,000.00)            -                -               -
      5/30/2011        Tax refunded                                                     400.00                                                          400.00              -            400.00           Tax paid
                                                                                                                                                           -                -               -
                                                                                                                                                           -                -               -
(end of section - enter additional lines above)                                                                                                            -                -               -
Expenses                                                                                                                                                   -                -               -
(enter as negative)                                                                                                                                        -                -               -
                                                                                                                                                           -                -               -
                                                                                                                                                           -                -               -
       4/3/2011        PAYE                                                             (500.00)                                                       (500.00)             -           (500.00)          Tax paid
       4/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)             -         (2,500.00)         Dividend
       4/4/2011        Salary                                                           (500.00)                                                       (500.00)             -           (500.00)          Salary
       4/5/2011        Garbetts                                                          (80.00)                                                        (80.00)             -            (80.00)       Vat expense
      4/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)             -           (100.00)         Pension
      4/29/2011        Every phone                                                       (89.00)                                                        (89.00)             -            (89.00)       Vat expense          Mobile phone
      4/30/2011        Postage for month                                                               (10.00)                                          (10.00)             -            (10.00)      Non vat expense
      4/30/2011        Stationary for month                                                            (26.00)                                          (26.00)             -            (26.00)       Vat expense
       5/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)             -         (2,500.00)         Dividend
       5/4/2011        Salary                                                           (500.00)                                                       (500.00)             -           (500.00)          Salary
       5/5/2011        Garbetts                                                          (80.00)                                                        (80.00)             -            (80.00)       Vat expense
      5/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)             -           (100.00)         Pension
      5/29/2011        Every phone                                                       (75.00)                                                        (75.00)             -            (75.00)       Vat expense
      5/29/2011        Rail fare                                                                                      (54.00)                           (54.00)             -            (54.00)      Non vat expense       Interview
      5/30/2011        Postage for month                                                                (5.00)                                           (5.00)             -             (5.00)      Non vat expense
      5/30/2011        Stationary for month                                                            (10.00)                                          (10.00)             -            (10.00)       Vat expense
      5/10/2011        Transfer to deposit account                                    (4,000.00)                                      4,000.00             -                -               -
      5/30/2011        PC Galore                                                                                     (999.00)                          (999.00)             -           (999.00)       Capital (vat)        New Laptop
      5/30/2011        Peripharals Galore                                                                            (125.00)                          (125.00)             -           (125.00)      Capital (non vat)     Printer
      5/30/2011        Software Galore                                                                (250.00)                                         (250.00)             -           (250.00)       Vat expense          Contract speed software
       6/4/2011        Dividend                                                       (2,500.00)                                                     (2,500.00)             -         (2,500.00)         Dividend
       6/4/2011        Salary                                                           (500.00)                                                       (500.00)             -           (500.00)          Salary
       6/5/2011        Garbetts                                                          (80.00)                                                        (80.00)             -            (80.00)        Vat expense
      6/10/2011        Pay credit card                                                (1,178.00)                    1,178.00                               -                -               -
      6/29/2011        Pensions R us                                                    (100.00)                                                       (100.00)             -           (100.00)         Pension
      6/29/2011        Every phone                                                       (62.00)                                                        (62.00)             -            (62.00)       Vat expense
      6/30/2011        Rail fare                                                                                      (58.00)                           (58.00)             -            (58.00)      Non vat expense
      6/30/2011        Postage for month                                                                (6.50)                                           (6.50)             -             (6.50)      Non vat expense
      6/30/2011        Stationary for month                                                             (3.25)                                           (3.25)             -             (3.25)       Vat expense
      6/30/2011        Bank charges                                                     (100.00)                                                       (100.00)             -           (100.00)      Non vat expense
      6/30/2011        Pay expenses to self                                             (425.75)      425.75                                               -                -               -
                                                                                                                                                           -                -               -
(end of section - enter additional lines above)                                                                                                            -                -               -
 Quarter               Auto-calculation - mileage/nights away                                         (115.00)                                         (115.00)             -           (115.00)          Auto calc

 Balance at end of quarter                                                            4,231.37             -          (58.00)       14,555.60        18,728.97              -        18,728.97

 Balance per statement                                                                4,231.37                        (58.00)       14,555.60
 Difference (this line should be nil)                                                      -                             -                -
                                                                                                                                                                                     nights away
                                                                                                                 Car passanger      motorcycle                        nights away from home (non
 Mileage etc                                                       Total             Car 1 miles   Car 2 miles       miles            miles          cycle miles   from home (UK)        UK)


 Mileage year to date (not including this quarter)                                          500           -
 Mileage this quarter                                                                       100           150             -                   -              -                  3           -

                                                                                               Petrol<1400
 Engine size in CC                                                                  LPG<1400cc           cc                      No vat claim
 Vat recovery rate p per mile                                                             0.07        0.11                               -

 Claim                                                                     115.00         40.00         60.00             -                   -              -            15.00             -
 Vat on mileage (using IR advisory rates)                                     -             -             -                                   -


 VAT return                                                                                                      Errors

 Box    1              Output Vat                                             -                                  If there are any errors on your data, they will
 Box    2              EC Imports                                             -                                  show in this box. Please correct them, or seek our advice.
 Box    3              Output Vat + imports                                   -
 Box    4              Inputs                                                 -
 Box    5              Net vat due                                            -
 Box    6              Sales (net)                                            -
 Box    7              Expenses (net)                                         -
 Box    8              EC sales                                               -
 Box    9              EC goods                                               -
GARBETTS - SMALL COMPANY ACCOUNTS SYSTEM
NOTES ON USEAGE

INTRODUCTION

This spreadsheet is intended to form the backbone of a simple transaction recording
system for a small company.

For clients of Garbetts its use is not compulsory, but is strongly recommended as (a) it
helps us to give you the best possible service and (b) it provides a solid base for you to
keep on top of your business finances.

The spreadsheet contains the following parts:

-         Company information
-         VAT summaries and rates
-         Five quarterly worksheets
-         Performance summary
-         Examples
-         Garbetts internal use page

PRELIMINARY
The intention is that clients should maintain this sheet and e-mail it to us either
annually or, if preferred, each quarter so we can then make any amendments and
return it to you prioir to your sending your vat off. If there are no amendments, then
we will e-mail you a confirmation that all is in order, but, to save bandwith we will not
e-mail the uncorrected spreadsheet to you.

The cycle each quarter is therefore:

-         You complete the sheet
-         E-mail to us if you wish
-         If sent to use we check/correct, e-mail back if necessary
-         Where vat registered you send your return off

Important: After it has been e-mailed to us for checking/amendments, and before it is
returned to you, it should not be further updated or changed by yourself, as these
changes will, of course, not be reflected in the version we hold. When the document is
e-mailed to us we endeavour to return it as soon as possible, bearing in mind work flow
in our office.

File names:   When sending your spreadsheet to us, can you please use a file name of:
         nnn_accountsyyyy.xls

         wherennn = your client number (a three or four digit number on all our
         correspondence with you – ask us if you are not sure)
         yyyy = the relevant tax/accounts year, eg 0304 for 2003/2004

It is very important that this naming format is followed, else we find our selves deluged
with helpfully named spreadsheets like "accounts.xls" and no immediate identifier for
them!

VAT RETURNS

If you wish us to check your vat we suggest you complete the sheet for the quarter,
e-mail the whole document to us, and then wait for us to return it with amendments
(or a confirmation of no amendments needed). Once you have the sheet back you
can then complete your vat return using the vat summary provided and send off a
cheque. This removes the need for you to send vat returns or cheques to us, and
leaves you in control of your vat payments.

This sheet is structured to work on cash accounting for vat. If you have previously
used invoice accounting then a adjustment will be needed in the quarter of change –
let us know and we will enter this for you. Please be aware that VAT returns must be
submitted by the last working day of the month after the vat period. Although
Garbetts try to process all vat paperwork as soon as possible, we do have a peak of
paperwork at each quarter end. It therefore assists us if you can have the sheet to
us within 10 days of the quarter end.

The vat summaries and rates tab can be used to specify normal vat, flat rate VAT or
turn off vat if you are not registered.

TAB: COMPANY INFORMATION

This section allows you to enter basic information on the company name, contact
details and the date ranges for each quarter.

For the quarter date ranges any date format is acceptable so long as it is consistent:

eg       AMJ 11, JAS 11 or, if preferred,
         1 April 2011 to 30 June 2011, 1 July to 30 September 2011, or
         April, May, June 2011, July, August, September 2011, etc

The information entered here replicates throughout the sheet.

TAB: VAT SUMMARIES AND RATES
This tab provides an at a glance quarterly vat summary, along with a % vat to sales
figure enabling an assessment of whether the flat rate scheme would be better for
you.

See http://www.garbetts.com/download/VATforPSCs.pdf for more information in the
flat rate scheme and application details.

Important: You must apply to HMRC before changing to or from the FRS – you
cannot do it of your own volition.

Against vat status (greyed boxes) enter Y for normal vat, F for Flat Rate Scheme
(and enter percentage below) or N for not vat registered.

TAB: QUARTER 1 THROUGH QUARTER 5

These are the main areas for data entry, intended to be a sheet for each quarter.

NB: five are provided to allow for in year changes of vat quarter or a "long" first
accounts year – most clients however will not need to use sheet 5.

The first section of the sheet is contact details, replicated from the company
information tab, and contract details for you to fill in (where, agent, client, sites,
dates, etc). This is a quick reference for future use.


Balance at start of quarter should be self evident, and is a carry forward on columns
d, f and g from the previous quarter (and is formulated as such for q2, 3, 4 and 5).

The income and expenses sections are for recording of income – columns are:

-a                  Date
-b                  Payer/payee details
-c                  Cheque number/reference (broadly what ever is most
                    convenient for you)
-d,e,f,g            Account source columns – business current account,
                    cash/personal account (including personal credit card), business
                    credit card, business deposit accounts.
                    VAT content column (VAT is automatically calculated from the
-h,i,j,k            drop down selection in the vat analysis column K)
-i                  Details column – for extra details and information.

NB columns i and j formulate automatically and should not be written over.
GARBETTS - SMALL COMPANY ACCOUNTS SYSTEM
NOTES ON USEAGE - continued



NB use the drop down sections from column K to select analysis of each
transaction. If the drop down box becomes corrupt, please send to us for correction.
(If you are not using genuine excel, these may not work, in which case unhide the
hidden rows at the foot of the page and copy the descriptions from there).

Income should be entered as a positive, expenses as a negative. If you have a
negative income item, eg sales refund, or a negative expense item, eg a refund from
a supplier, then it does not matter greatly whether it goes into income or expenses
section, so long as the positive/negative aspect is correct.



Extra rows can easily be inserted using the inset function on your spreadsheet. You
should insert them above the end of section marker, and then copy formats down
using either ctrl-C or, in Excel, Edit|paste special|formula. If formats are not copied
when inserting rows then you will loose the automatic vat calculation functions.


VAT is calculated automatically from the information in the vat analysis column (k).
If the calculated vat is slightly different to the vat on the invoice/receipt you are
entering then it is suggested you leave the calculated amount unchanged. If the
difference is significant, then override the calculated vat in column (k).

The vat status set on the vat summaries and rates tab determines whether normal
vat is applied, flat rate vat or no vat (not registered).
Use of credit cards: A personal credit card is one in your own name, normally
settled from personal funds (or from business funds but with a mixture of private and
business items thereon). Settlement of a personal credit card should be coded to
directors account. A business credit card is one in the name of the business,
usually settled by direct debit to the business account, and used mainly for business
items. Settlement should be shown by inter account transfer so that the settlement
balances transactions entered (possibly including a previous months transactions).
If you are unsure whether a credit card is business or personal then it does not
make a great deal of difference so long as the treatment is consistent each quarter –
if a card is treated as business, then all transactions, including private items and
card charges must be entered, whereas if a card is private then only transactions
being claimed for tax need to be entered.

Error trapping: – the spreadsheet has inbuilt error traps to identify if a calculation
goes wrong – normally because a formula has been deleted in error. When an error
message comes up in the error box, it should be easy enough to correct, but if you
are unsure e-mail a copy to us and we will advise.

Transfers between accounts : eg from current account to deposit, or from current
account to settle business credit card are entered as a positive in one of the source
columns and a negative in another, to balance. This means the entries are in
columns d, e, f or g, and do not impact on columns h, i, j or k.


Auto-calculation : entries for mileage and nights away are automatically entered at
the last line of the expense section.

GARBETTS - SMALL COMPANY ACCOUNTS SYSTEM
NOTES ON USEAGE - continued


Balance at end of quarter: is an auto calculation. For columns d, f and g a
comparison to statement is required to ensure that all entries are included.



Ideally you should arrange for your bank/business credit card statements to be made
up to the quarter end, and the resultant statement balances entered. The statement
balances should match the calculated balance, else an error will be shown.
However if your statements do not tie up with the quarter end, it is suggested that
you take the nearest statement and add back or on adjusting items as necessary to
give an adjusted quarter end balance, and enter that here.

It is very important that the statement balances are matched to the balances on the
spreadsheet, else the integrity of your accounts is wholly lost.


NB the intention is this sheet mirrors the bank statements - if you are used to an
accounting system where outstanding items are accounted for by date, then note
that on this system no such adjustments are made.


Mileage etc: is a section for entering car mileage (two cars are provided for), cycle
and motorcycle mileage, car passenger miles (each passenger other than the
driver) and nights away (UK and non UK).

For the car and motorcycle mileage there is the option to select the engine size/fuel
type for a vat claim on fuel at approved rates, using the drop down box.

NB if you have mileage reimbursed to you by a client, then this should be included in
sales income in the same way as your main contract/professional service income.
The total business mileage for the quarter, reimbursed and non reimbursed should
then be claimed in this section.


VAT return: is a mirror of the entries to go on your vat return. Once your
spreadsheet has been checked/amended by Garbetts, this data should be
transferred to your vat return and the appropriate payment made.

NB If you ever need to correct an error after a quarters vat has been calculated, this
should be done by way of a reversing entry in the current quarter. You should never
change a quarter after the vat return has been done.

TAB: YEAR END INFORMATION



This page is designed for use at your year end to let us have the annual information
we need to complete your year end accounts.

It does not need to be completed each quarter!


TAB: PLANNING QUESTIONNAIRE
This page is a pre year end questionnaire, designed to help us review your taxes
every Spring. Please send it to us after completion of the December quarter end.

It does not need to be completed each quarter!


TAB: PERFORMANCE SUMMARY

This section is designed to give a summary of profit and loss performance and
movements on the directors account during the year.

There are various greyed sections which require user input – each section has a pop
up note to advise what is needed.


TAB: EXAMPLES

Three examples are given – normal vat, flat rate and not vat registered, all on the
same data.

TAB:GARBETTS OFFICE USE

This tab is for office use by Garbetts, relating to logging use of the sheet.
GARBETTS - SMALL COMPANY ACCOUNTS SYSTEM
Enter data in cell E6
Enter data in cell E10
Enter data in cell E8

Date         Who        Action Type
  3/2/2011   SA         New fuel VAT recovery rates effective 1/3/2011 Use from 1/4/2011)
 3/24/2011   SA         New <10k mileage rate changed to 45p
  6/2/2011   SA         New fuel VAT recovery rates effective 1/6/2011 Use from 1/7/2011)
 6/14/2011   prg        Upgrade mileage mapping




VAT recovery rates for fuel - sheets read from here, update this not the sheets

        Q1          Q1          Q2          Q2         Q3          Q3         Q4          Q4         Q5
Diesel <1600cc 0.13 Diesel <1600cc 0.12 Diesel <1600cc 0.12 Diesel <1600cc 0.12 Diesel <1600cc
                 0.13 Diesel 1601-2000cc Diesel 1601-2000cc Diesel 1601-2000cc Diesel 1601-2000cc
Diesel 1601-2000cc                       0.15                   0.15                   0.15
Diesel>2000cc 0.16 Diesel>2000cc 0.18 Diesel>2000cc 0.16 Diesel>2000cc 0.16 Diesel>2000cc
LPG<1400cc       0.10 LPG<1400cc 0.11 LPG<1400cc 0.11 LPG<1400cc 0.11 LPG<1400cc
LPG>2000cc       0.17 LPG>2000cc 0.18 LPG>2000cc 0.18 LPG>2000cc 0.18 LPG>2000cc
LPG1401-2001cc0.12 LPG1401-2001cc        0.13 LPG1401-2001cc    0.13 LPG1401-2001cc    0.13 LPG1401-2001cc
                  -      No vat           -
No vat claim/not vat registered claim/not vat registered
                                                No vat claim/not vat registered
                                                                 -     No vat claim/not vat registered
                                                                                        -     No vat claim/not vat registered
Not specified     -      Not specified    -     Not specified    -     Not specified    -     Not specified
Petrol<1400cc 0.14 Petrol<1400cc 0.15 Petrol<1400cc 0.15 Petrol<1400cc 0.15 Petrol<1400cc
Petrol>2000cc 0.23 Petrol>2000cc 0.26 Petrol>2000cc 0.26 Petrol>2000cc 0.26 Petrol>2000cc
Petrol1401-2001cc0.16 Petrol1401-2001cc  0.18 Petrol1401-2001cc 0.18 Petrol1401-2001cc 0.18 Petrol1401-2001cc
Claim vat        0.05 Claim vat          0.05 Claim vat         0.05 Claim vat         0.05 Claim vat
No vat claim      -      No vat claim     -     No vat claim     -     No vat claim     -     No vat claim

Used                     Used                      Used                   Used                   Used
Vehicle 1          -     Vehicle 1        -        Vehicle 1     -        Vehicle 1     -        Vehicle 1
Vehicle 2          -     Vehicle 2        -        Vehicle 2     -        Vehicle 2     -        Vehicle 2

Errors                                        Q1         Q2          Q3         Q4          Q5

								
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