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Vat P5 2015

VAT-P5-2015

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bongoloid
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37 views1 page

Vat P5 2015

VAT-P5-2015

Uploaded by

bongoloid
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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(Note: There are overflow pages after Month 12) © P.

Hingston

General Administrative Expenses Motor Travel & Adverts &


EXAMPLE Post Parcels Stationery Print Sundries Tel Fax Mobile
Website Expenses Subsistence Promotion
Others
Notes “General Administrative Expenses” can also 58 42
include: Business Insurances, Subscriptions and Website costs.
If necessary, use the blank columns on either side. The blank columns are for
This blank column 50 00 your own headings. Suggestions include:
could be used for “Repairs “Legal & Professional”, “Refunds”, “Petty Cash”,
and Renewals” (of business 14 58 “Capital Expenditure” & “Others” - or to suit your
premises or machinery, but not
motor vehicles). Alternatively you
106 88 needs. In one month you might need a column for
one type of expense, but not the following month
could use the “Others” column on 241 56 when the same column could then be
the far right, leaving this column used for another category. It may be useful
for more “Premises Costs” or to title the last column as
more “General Admin.
Expenses”.
116 66 “Others” and to use it for any
one-off or infrequent payments.
131 89 These can then be annotated
as shown below.
333 33
New Computer 520 83
20 00 3 70 85 00 110 12 125 00
151 89 106 88 18 28 326 56 50 00 285 20 125 00 333 33 520 83

General Note Headings


The narrow column on For every payment, the Try to be consistent and put
the left is there should you need amount is entered not only in similar expenses under the same
an extra column. the “TOTAL” column but also headings every month so that adding
in the appropriate expenses up your annual totals will
column (less VAT). be easier.

Useful Feature
Every 5th horizontal line
is darker to make it easier
to read across the page.

Allowable Expenses
Generally, costs you pay with
the sole purpose of earning business
profits are allowable expenses. Hence
non-business or personal costs are
not usually tax deductible.

Good Practice
When you complete a month, it
is good practice to transfer the figures
to the “At Year End” Annual Summaries
located before the VAT Section in
this book. Tip: Use a pencil
(lightly) to begin with.

Only a few entries are


shown here to illustrate how to
complete this double page.

CHECKING YOUR FIGURES


The column totals (below), when added together
horizontally, should equal the first column “TOTAL” added
vertically (ie the totals in this worked example
should both equal £4,691.57).
This is a most useful check!

151 89 106 88 18 28 326 56 50 00 285 20 125 00 333 33 520 83

VAT-P5 (2015).p65 5 04/09/2015, 15:31

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