AMRF being assigned and the tax implications of draw down…
talk to me people??
What happened with the ACA exams at the weekend?
I’m seeing widespread outrage on LinkedIn.
An IT shitshow
At the ACA end? I thought that would all be outsourced to some company that would run and proctor the exam?
Christy Kearney lost his shit altogether.
Online assessment worth 15% of one of the FAEs. Server crashed. Some people completed the exam only to find out it had been cancelled.
100% of marks will be for the final exam now.
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Accountants and bidness men like @Bandage and @Julio_Geordio and @Horsebox. Can someone axplain vat charges to me. A friend has an agent who charges X percent commission on earnings. Friend was surprised to see vat being charged on top of the percentage rate. Is this normal/legal? Is there a standard practice or is it governed by the contract between the two sides?
So he’s charging him 10% say and then throwing another 2.3% on it?
Is the agent Pat Dolan?
Yeah exactly.
He’s charging him for a service. The VAT rate on services is 23%. The fact that the price of the service is calculated based on earnings is irrelevant so it’s not really a percentage of a percentage.
Why wouldn’t it be
If your friend is vat registered he is just claiming it back again surely
Gangsters ted.
Of course when they allow an Enron or the like, they scuttle back into the woodpanelling.
What is the correct VAT rate for a car service including new parts?? My old mechanic charged 13.5% all in, my new guy is charging 13.5% on labour and 23% on the parts. A quick search online has left me none the wiser.
I would consider that to be a fairly complicated VAT area; basically it should be two separate rates where they are deemed to be two separate transactions (where the parts wouldn’t always necessarily form part of the service, it’s likely they’d be charged at 23%).
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I’d have thought it depending on make up of the bill that of majority of bill was parts you charge all at the rate applicable to parts (23%) and if majority of bill was labour then its all at the 13% rate… But a while since I gave it any thought
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The car needed a good bit of work including new shocks, bushings, brake disks etc. The invoice totalled goods at circa €600 and labour at €270 before adding th 23% on the €600 and 13.5% on the €270, all in one transaction. I’ve never been charged separately like this before, any work I’ve previously had done was charged in total at the 13.5% rate.
What you’ve described there is the correct breakdown I’d say. Why would labour be 23%. A dose of a bill to get.
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