PSCaccountsformat

WHITEFIELD - SMALL COMPANY ACCOUNTS SYSTEM - 19/20
CONTENTS OF WORKBOOK
Company information Enter your basic company information here
Help and guidance Visit this sheet for help and guidance
Vat summaries Views your vat returns and summaries here

Don’t forget to set your vat rates up here when you first start to use the sheet
Quarter 1
Quarter 2
Quarter 3 Your transactions entered quarterly

(normally Q5 not needed)
Quarter 4
Quarter 5
Performance summary Summary of your quarterly sheets, and simple tax planning
Planning questionnaire Send this to us at the end of quarter 3
Year end questionnaire Send this to us at your year end
Dividend vouchers For documenting dividends for tax compliance

We don't need them for our records, they are for your files
Calculator Calculator
Examples Help on using this sheet
Guidance notes Help on using this sheet
Whitefield office use (1) For Whitefields use

ou first start to use the sheet
WHITEFIELD - SMALL COMPANY ACCOUNTS SYSTEM - 19/20 home help
Company Name Company Name
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 2019

Quarter 2 period July, Aug, Sep 2019
Quarter 3 period Oct, Nov, Dec 2019
Quarter 4 period Jan, Feb, March 2020
Quarter 5 period Spare quarter
Vat Registration Number * ENTER REG NUMBER HERE
For help and guidance visit https://www.whitefieldtax.co.uk/help/whitefield-transaction-recording-system/user-guide/
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 prefixed with your client reference, the usage 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 2019/20 version of the accounts template. Do not use after 31 March 2020
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.
HELP AND GUIDANCE
Help with this sheet
https://www.whitefieldtax.co.uk/help/whitefield-transaction-recording-system/user-guide/
"examples" tab in the worksheet
"guidance" tab in the worksheet
Main Contacts
Our postal address: Whitefield Tax Limited

Arnold House, 2 New Road
Brading, Sandown, Isle of Wight, PO36 0DT
Main office phone: 01983 614108 (9-3 daily)
Direct phone and emails below, email is always preferred.
Susan Albest, Accounts Manager (associate) Accounts and bookkeeping matters, VAT, IR35, business structure
susan@whitefieldtax.com 01983 619453 General advice regarding running your company, and client service
Mon-Thurs
Julie Barrett, Tax Manager Tax compliance, returns and payments, payroll
julie@whitefieldtax.com 01983 619452 Tax advice
Deborah Richards, Office Manager Administration support

deborah@whitefieldtax.com 01983 614108 Fee payments and standing orders
Help and Guidance
Working with us – Forms and Administration for Clients
Pay your Accounting Fees by Credit Card

Terms of Business
Identification Requirements – for new clients joining us – we have to obtain these by law
Professional Fee Protection Scheme – details or join and pay online
P11D Questionnaire – we need this by the end of May each each year.
Your Business Year End and Getting it to Us
Companies House Confirmation Statement (replaces the Annual Return) – you can ask us to do your return for you and
Moving Home or Changing your Address? – who to tell and you can tell us online (and that includes changes of telephon
Self Assessment Questionnaire Form (SADR) – we need this by end of September each year to process your Self Asses
Approve your Annual Accounts Online – this lets you approve your annual accounts online, and authorises us to submit
FreeAgent Software – start to get ready for Making Tax Digital
PSC Pre-Year End planning questionnaire – for use by FreeAgent users.
FreeAgent Year End Questionnaire 2018-19
Budgets and Statements
Summer 2015
Autumn 2015
Spring 2016
Autumn 2016
Spring 2017
Autumn 2017
Spring 2018
Autumn 2018
Spring 2019
Briefings and Topical Technical Guides
Making Tax Digital

IR35
Construction Industry Scheme
Employment Status
Small Business Record Keeping
PAYE Real Time Information (RTI)
Auto Enrolment and Workplace Pension Reform
High Income Child Benefit Charge
Company Formations and Business Set Up
EIS and SEIS
Transferable Personal Allowances – 2015/16 onwards
Tax on Savings and Dividends – 2016/17 onwards
Tax Credits
R&D Tax Credits
National Minimum Wage/National Living Wage
Employment Allowance 2014/15 onwards
Working from Home
Tax and Accounting for Yoga Teachers
£1,000 Trading and Property Allowance
Running a Social Enterprise or Charity
Self Employed Travel Expenses – Eligibility
Resources for Personal Service Companies
Whitefield and PSCs – an introduction to us and you

Charges and Services
Joining us – Company Formation and Transferring an Existing Company
Getting Started with your Company
IR35
Choosing an Accountant
Terms of Business
Accounting and Transaction Recording Spreadsheet
Professional Fee Protection
IR35 for Personal Service Companies
IR35 resources on our site

IR35 basic principles
IR35 business entity tests (reference only)
IR35 cash basis or accruals
IR35 contract reviews
IR35 dividend strategy
IR35 getting the contract right
IR35 Intermediary Reporting Rules
IR35 public sector contracting
IR35 private sector contracting – possible changes
IR35 status checklist
General Topics for Personal Service Companies
An introduction to PSCs
Choice of Structure for a Contractor
Forming a company
Getting Started with your Company
Managed Service Companies, Umbrellas and Composites
Our services for PSCs and registration with us
Whitefields PSC Service Specification
Running a Personal Service Company
Accountants References – Lending/Renting/Verification

Closing down or suspending a company
Companies House Web Filing and Confirmation Statements (formerly Annual Returns)
Developing and Expanding your Business
Directors current account
Dividend Administration
Employers Liability Insurance
Employing someone to assist you, including a spouse
Insurance for your business (PI, PL etc)
Investing through your company
Invoicing
Late Payment and Invoice Terms
Legal Obligations for your Company
Loans between a Company and its Directors / Shareholders
Penalties and avoiding them
Pension or insurance provision
Running another business or hobby though your company
Understanding Business Turnover
Understanding the annual accounts
What accounts and returns need to be filed
What to do if you are not paid
Working from home
Workplace Pension Reform and Auto Enrolment
Working abroad with your own company
Tax Rates and Calculations for a Personal Service Company
How the company and contractor are taxed

Tax liability example for a contractor/PSC
Tax Calculator
Tax rates and allowances
Tax rates and take home percentages at differing income levels
Comparison to permanent rates
Expenses for a Personal Service Company
Expense claims & allowances

24 month rule
Benchmark rates for expenses
Expenditure on Meals
Vehicle Costs
Tax Topics for a Personal Service Company
Employment Allowance
Income Shifting
R&D Tax Credits
Real Time Information
Salaries and Dividends – How does it all work in practice?
Self assessment
Tax and childcare
Tax Calculator
VAT basics
Record Keeping for a Personal Service Company
Our daughter brand YogaTax specialises in accounting for Yoga Teachers, and has a wealth of help topics on its own websi
Accounting Systems
Whitefield PSC Spreadsheet
FreeAgent Software
What records need to be kept
VAT, IR35, business structure
ur company, and client service
us to do your return for you and pay via credit card

that includes changes of telephone number and email as well)
h year to process your Self Assessment return – this link takes you to an online form to submit the data to us.
ine, and authorises us to submit your CT600 for you
h of help topics on its own website. We’ve linked these below as they will also be of general interest to many other small businesses, e
o many other small businesses, especially sole traders and micro businesses.
Company Name home help
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, March
2019 2019 2019 2020 Spare quarter
CAUTION: WHEN FILING ONLINE BOXES 3 AND 5 ARE AUTOMATICALLY GENERATED
Box 1 Output Vat - - - - -

Box 2 EC Imports - - - - -
Box 3 Output Vat + imports (Automatic Calculation) - - - - -
Box 4 Inputs - - - - -
Box 5 Vat due (Automatic Calculation) - - - - -
Box 6 Sales (net) - - - - -
Box 7 Expenses (net) - - - - -
Box 8 EC sales - - - - -
Box 9 EC goods - - - - -
VAT to gross income % #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
(if this % is more than your applicable Flat Rate percentage, then consider moving to flat rate)
VAT status Y Y Y Y Y
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
Current vat registration threshold £85,000 (2019-20) - you must register for VAT if your turnover exceeds this level, on a rolling 12 month basis.
If your tunover in any "rolling" 12 month period exceeds £85,000, you will be required to register for Making Tax Digital for VAT (MTDfVAT). Please speak to us if
you think you may be affected.
Notes re the flat rate scheme
You can join the Flat Rate Scheme if your vat exclusive turnover is less than £150,000.
Once your vat inclusive turnover exceeds £230,000 you must leave the scheme.
Turnover is measured on a rolling 12 month basis
With the Flat Rate Scheme, you:

eg - suppose you invoice a customer £1,000 + vat
> collect vat from customers as usual at 20% You collect £1,200 including vat from customer
> you pay vat over to HMRC at a reduced % applied to vat inclusive turnover If your flat rate was 14%, you pay £168 to HMRC
> you no longer claim vat back on expenses (although they still need to be collated for other taxes)
Due to the Low Cost Trader rules from April 2017, most PSCs will now need to use 16.5%, and standard VAT is likely to be more efficient cash wise.
Flat rate may still be administratively easier
https://www.whitefieldtax.co.uk/help/vat-for-pscs/#vat3a
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 go to: VAT notice 733
Also see https://www.whitefieldtax.co.uk/help/vat-for-pscs/
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 consultancy 14.00%
Management consultancy 14.00% > these amounts apply to gross income
Computer and IT consultancy or data processing 14.50% whereas normal vat rate applies to net
Engineering consultants and designers 14.50%
Low cost traders (April 2017 onward) 16.50%
Company Name home help Whitefield Tax Limited, Chartered Certified Accountants
QUARTERLY TRANSACTION REPORT FOR: April, May June 2019
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 20.0%
Vat method Normal ###
Business current Cash/ personal Business credit Business deposit

Date Payee/payer Chq no/ref account £ account £ card 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)
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Quarter Auto-calculation - mileage/nights away - - - - Auto calc
Balance at end of quarter - - - - - - - ###
Balance per statement - -

Difference (this line should be nil) - - -
Car passenger nights away from nights away from

Mileage etc Total Car 1 miles Car 2 miles miles motorcycle miles cycle miles home (UK) home (non UK)
Mileage year to date (not including this quarter) - -

Mileage this quarter - - - - - - -
Engine size in CC Not specified Not 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 details for online filing 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 - Automatic
Box 4 Inputs -
Box 5 Net vat due - Automatic
Box 6 Sales (net) -
Box 7 Expenses (net) -
Box 8 EC sales -
Box 9 EC goods -
Date printed 20-Feb-20 00:23
QUARTERLY TRANSACTION REPORT FOR: July, Aug, Sep 2019

Client/site/dates
Vat method Normal

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Claim - - - - - - - -
Box 4 Inputs -
Box 6 Sales (net) -
Box 8 EC sales -
Box 9 EC goods -
QUARTERLY TRANSACTION REPORT FOR: Oct, Nov, Dec 2019

Client/site/dates
Vat method Normal

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Claim - - - - - - - -
Box 4 Inputs -
Box 6 Sales (net) -
Box 8 EC sales -
Box 9 EC goods -
Please complete and send in your planning questionanaire at the end of this quarter, thank you!
QUARTERLY TRANSACTION REPORT FOR: Jan, Feb, March 2020

Client/site/dates
Vat method Normal

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Claim - - - - - - - -
Box 4 Inputs -
Box 6 Sales (net) -
Box 8 EC sales -
Box 9 EC goods -
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!
QUARTERLY TRANSACTION REPORT FOR: Spare quarter

Client/site/dates
Vat method Normal

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Claim - - - - - - - -
Box 4 Inputs -
Box 6 Sales (net) -
Box 8 EC sales -
Box 9 EC goods -
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!
Company Name home help
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, March Jan, Feb, March
2019 2019 2019 2020 2020 £
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 - - - - - -
VAT due - - - - - -
Bf banks - - - - -
cf Banks - - - - -
Profit and loss account £
Sales income Received -

Brought forward debtors (PLEASE READ COMMENT IN B34) -
Carried forward debtors (PLEASE READ COMMENT IN B35) -
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Other income -
Interest received -
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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 (PLEASE READ COMMENT IN H61)

(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 Caution tax on dividends will not be correct until H93 entered
These are rough figures only, to help you plan.
Enter number of months income included in the sheet so far

(if this figure isn't correct, the allocation of allowances will be erroneous)
Estimated Corporation Tax (accruing figure) -
Estimated company tax/vat liabilities owed to date
Corporation Tax for year ended 31/3/19 (See comment in cell H100)
Corporation Tax for year ended 31/3/20 (accruing) -
VAT currently due (see comment in cell G102) -
Paye/NIC due
Current tax/vat liability (this needs to be kept in the company, in the bank and/or in debtors/wip) -
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 100% 0%
Dividend above, split between shareholders - -
Estimated tax on dividend to date - -
NB this assumes an apportionment of tax bands over the year, but includes the whole of the salary and other income
this will be a rough amount of tax due to date, but use the calculator tab to model a more accurate annualised projection
Available Funds:
Bank balances 0.00
Debtors 0.00
Current Directors account balance 0.00
Owed to HMRC 0.00
Available SEE COMMENT 0.00
Pre year end tax planning questionnaire for PSCs 2019/20
Your Name Enter data in cell E10
Our Reference for you Enter data in cell E8
Please return by 14 February 2020 – 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 Private Sector IR35
- all contracts caught by Public Sector 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
2019-20 reviews must be concluded before 29.2.20. For
more information on contract reviews, and a pre review
checklist visit (which must accompany all contracts for
review). £200+vat charge for formal contract reviews; £50+vat for.
informal reviews)
IR35 resources on our site

IR35 basic principles
IR35 business entity tests (reference only)
IR35 cash basis or accruals
IR35 contract reviews
IR35 getting the contract right
IR35 Intermediary Reporting Rules
IR35 public sector contracting
IR35 status checklist
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 £12k pa pro

rata if necessary, and subject to any pension funding
requirements (19/20 rates)
There is some useful guidance at:

If you want a different salary level please let us know, however

because of the new RTI reporting system retrospective changes
are problematic.
If you have a 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. Other income – self
Please advise estimated levels of any other 2019/20

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 2019/20

please include details of earnings prior to starting the PSC
(per P45) or leavers statement)
5. Salary and dividend levels – spouse
If your spouse does not other wise use his or her personal
allowances then we recommend a salary of £8,520 pa /
£710 p/m (19/20 rates)
There is some useful guidance at:

If you want a different salary level please let us know, however

because of the new RTI reporting system retrospective changes
are problematic.
If you have no spouse or wish to not claim any spouse

allowances, please let us know.
6. Other income – spouse
Please confirm your spouses income from sources other

than your company, so we can check share allocations are
efficient, and advise on a top up salary from your company if
appropriate.
Spouse includes common law relationships and civil
partnerships.
7.Projected company income and expenses January

– March 2020
Please let us have an estimate of your company income excluding

any vat for the January to March 2020 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 31/12/19 but paid after 1/1/20
(ii) invoices to be raised between 1/1/20 and 31/3/20, irrespective
of whether they will be paid by 31/03/20
(iii) invoices to be raised after 1/4/20 but in respect of work
carried out before 31/03/20
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.
8. Company accounts
If you have not already forwarded us your company

accounts information to 31 December 2019 (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
9. 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
Expense claims & allowances
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.
10. 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.
11. 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
12. Shareholdings
Please list the shareholders in your company and the

percentage held by each.
13. 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:
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?
PERSONAL SERVICE COMPANIES
YEAR END INFORMATION 2019/20
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 ask us for a checklist of what we require.
Your Name Enter data in cell E10
Our 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).
Please separate private sector and public sector IR35
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 £4 p/w / £18 p/m 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
miscellaneous running costs
metered water
NB Mortgage/Rent/Council Tax costs are not allowed).
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).
Guidance on dividend strategy is at:

DECLARATION
By inserting my name in this box, I confirm everything is

complete and that Whitefield can prepare the year end accounts.
I Understand that there may be will be a charge of £100+ vat if
the approval accounts need to be amended as a result of
omissions from, or errors in the information submitted.
Company Name
Company Number xxxxxxx
Dividend paid on xx xxxxxx 20xx in respect of the accounting year ending 31 March 2017
Name of Shareholder: xxxxxx
Shares held: 100
Payable per share: £40.00
Total Dividend paid £4,000.00
………………………..
Enter data in cell E10 Director
Company Name
Registered Office:
c/o Whitefield Tax, Arnold House, 2 New Road, Brading, Isle of Wight, PO36 0DT
Company Name
Company Number xxxxxxx
MINUTES OF A BOARD MEETING

HELD ON date/time
HELD AT address – your business address / home
PRESENT names of attendees – director(s) and secretary (if any)
The directors discussed the companies state of affairs and noted assets, including cash at
bank of £xx,xxx, and liabilities including tax accrued of £xx,xxx.
It was decided to pay a dividend of £xx,xxx to shareholders, being £xx per share
SIGNED director or secretary

Whitefield
19-20 Tax Calculator
Enter annual (12 months) figures for 19/20:
Company Income and Expenses £
Business turnover excluding VAT

Travel and Subsistence expenses -
Expenses other than T&S and Salaries -
Employer Pension Contributions -
Capital Expenditure (deducted via Capital Allowances) -
Salary for Director -
Salary for Secretary -
Percentage Shareholding Director 100%
Percentage Shareholding Secretary 0%
(these need to add up to 100%)
Director and Shareholder other income
Director - other employments, rents etc -

Director - other employments, rents etc - tax deducted -
Director - self employments -
Director - other dividends -
Director - savings income -
Director - gross personal pension and Gift Aid (enter as positive) -
Secretary - other employments, rents etc -

Secretary - other employments, rents etc - tax deducted -
Secretary - self employments -
Secretary - other dividends -
Secretary - savings income -
Secretary - gross personal pension and Gift Aid (enter as positive) -
Brought forward reserves (optional) -
Dividend policy
Select automatic, basic rate, manual automatic

Automatic distributes all profits as dividend
Basic rate distributes the maximum dividend to keep within Basic Rate tax
Manual allows you to enter the amount of dividend manually
If manual, enter the amount -
Computed dividend -
IR35 Status - adjusts director salary
Income caught by non public sector IR35

Select All, None or Part none
If all income is caught by IR35 select all
If no income is caught by IR35 enter none
If some income is caught by IR35 select part and enter the amount in the grey cell
If Part, enter the amount caught -
Income caught by public sector IR35

If some income is caught by IR35 select part and enter the amount in the grey cell
IR35 calculations
Income caught by non public sector IR35 -
Income caught by public sector IR35 -
5% expense allowance -
Deemed salary - after grossing down for employers NI -
Company Accounts 19/20 £
Turnover -

Salary - director -
Salary - secretary -
Ers NI - director -
Ers NI - secretary -
Employment allowance -
Subject to CT -
Corporation Tax (after Capital Allowances) -
Profit after CT -
Brought forward reserves -
Dividend -
Reserves c/fwd -
Dividend - director -
Dividend - secretary -
Tax Due
Personal Tax Salary and other income - director -

Personal Tax Salary and other income - secretary -
Personal Tax Dividend - director -
Personal Tax Dividend - secretary -
Ers Ni - director -
Ees NI - director -
Ees NI - secretary -
Employment Allowance -
CT from above -
Total tax including from other income -

Effective % of company turnover after expenses #DIV/0!
Effective % of company turnover #DIV/0!
Effective % of all income after expenses #DIV/0!
home help
We’ve prepared a calculator for you to be able to model your own tax liabilities and look at scenarios.
A few points to note:
Enter data in the grey boxes.

All figures should be annualised.
The model caters for two people in terms of salary, dividend and other income, for ease referred to as
Make sure you select the appropriate options for IR35 status and Dividend Policy.
For IR35 status you can select All, None or Part referring to income caught by IR35 – if part you need to
For dividend policy you can select Automatic (which distributes all profit as dividend), basic rate (to res
The model is the same algorithm as drives the examples on our website and we use for planning clients ta
The model also generates the following pages from our website:
Tax liability example for a contractor/PSC

Tax rates and take home percentages at differing income levels
Please don’t forget to overwrite the pre-populated grey boxes.
The latest version of the calculator is always online at:

Tax Calculator if there have been in year changes
Your notes
ilities and look at scenarios.
r income, for ease referred to as director and secretary.
ught by IR35 – if part you need to enter the amount/. Ir35 status only works on the director salary.
fit as dividend), basic rate (to restrict the dividend to basic rate tax) or manual in which case you need to enter the amount. Where the dividend is r
nd we use for planning clients tax liabilities.

he amount. Where the dividend is restricted to basic rate it applies the test to both the director and secretary, so one may have wasted allowances
so one may have wasted allowances.
Example
Example only
only
EXAMPLE - NORMAL VAT home help
XYZ CONTRACTORS LIMITED Whitefield Tax Limited, Chartered Certified Accountants

QUARTERLY TRANSACTION REPORT FOR: AMJ 2016 01983 614108 - mail@whitefieldtax.co.uk
Client Reference: A123

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

Balance at start of quarter 1,001.00 - 15,550.00 16,551.00 16,551.00
- - -
4/1/2016 A Agency Invoice 001 4,500.00 4,500.00 750.00 3,750.00 Sales income
4/5/2016 Personal account (loan to company) 500.00 500.00 - 500.00 Directors account
6/1/2016 The Bank PLC 0.12 5.60 5.72 - 5.72 Interest received
4/2/2016 Transfer to c/a 5,000.00 (5,000.00) - - -
5/30/2016 Tax refunded 400.00 400.00 - 400.00Personal Tax (Self Assessment)
Example only
- - -
- - -
Expenses - - -
- - -
- - -
4/3/2016 VAT paid (689.00) (689.00) - (689.00) VAT paid over
4/3/2016 PAYE (500.00) (500.00) - (500.00) PAYE/NI
4/4/2016 Dividend (2,500.00) (2,500.00) - (2,500.00) Dividend
4/4/2016 Salary (500.00) (500.00) - (500.00) Salary
4/5/2016 Whitefield (80.00) (80.00) (13.33) (66.67) Vat expense
4/29/2016 Pensions R us (100.00) (100.00) - (100.00) Pension
4/29/2016 Every phone (89.00) (89.00) (14.83) (74.17) Vat expense Mobile phone
4/30/2016 Postage for month (10.00) (10.00) - (10.00) Non vat expense
4/30/2016 Stationary for month (26.00) (26.00) (4.33) (21.67) Vat expense
5/4/2016 Salary (500.00) (500.00) - (500.00) Salary
5/5/2016 Whitefield (80.00) 80.00 13.33 66.67 Vat expense
5/29/2016 Every phone (75.00) (75.00) (12.50) (62.50) Vat expense
5/29/2016 Rail fare (54.00) (54.00) - (54.00) Non vat expense Interview
5/10/2016 Transfer to deposit account (4,000.00) 4,000.00 - - -
5/30/2016 PC Galore (999.00) (999.00) (166.50) (832.50) Capital (vat) New Laptop
5/30/2016 Peripherals Galore (125.00) (125.00) - (125.00) Capital (non vat) Printer
5/30/2016 Software Galore (250.00) (250.00) (41.67) (208.33) Vat expense Contract speed software
6/4/2016 Salary (500.00) (500.00) - (500.00) Salary
6/5/2016 Whitefield (80.00) 80.00 13.33 66.67 Vat expense
6/10/2016 Pay credit card (1,178.00) 1,178.00 - - -
6/29/2016 Every phone (62.00) (62.00) (10.33) (51.67) Vat expense
6/30/2016 Rail fare (58.00) (58.00) - (58.00) Non vat expense
6/30/2016 Bank charges (100.00) (100.00) - (100.00) Non vat expense
6/30/2016 Pay expenses to self (425.75) 425.75 - - -
- - -
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

Example only
Mileage year to date (not including this quarter) 500 -

Mileage this quarter 100 150 - - - 3 -
Engine size in CC LPG<1400cc Petrol<1400cc 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 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%)

Client/site/dates
Vat method Flat Rate

- - -
4/2/2016 Transfer to c/a 5,000.00 (5,000.00) - - -
Example only
5/30/2016 Tax refunded 400.00 400.00 - 400.00Personal Tax (Self Assessment)
- - -
- - -
Expenses - - -
- - -
- - -
4/3/2016 VAT paid (689.00) (689.00) - (689.00) VAT paid over
4/3/2016 PAYE (500.00) (500.00) - (500.00) PAYE/NI
4/4/2016 Salary (500.00) (500.00) - (500.00) Salary
4/5/2016 Whitefield (80.00) (80.00) - (80.00) Vat expense
4/29/2016 Every phone (89.00) (89.00) - (89.00) Vat expense Mobile phone
4/30/2016 Stationary for month (26.00) (26.00) - (26.00) Vat expense
5/4/2016 Salary (500.00) (500.00) - (500.00) Salary
5/29/2016 Every phone (75.00) (75.00) - (75.00) Vat expense
5/30/2016 PC Galore (999.00) (999.00) - (999.00) Capital (vat) New Laptop
5/30/2016 Software Galore (250.00) (250.00) - (250.00) Vat expense Contract speed software
6/4/2016 Salary (500.00) (500.00) - (500.00) Salary
6/10/2016 Pay credit card (1,178.00) 1,178.00 - - -
- - -
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

Example only


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 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 8 EC sales -
Box 9 EC goods -
EXAMPLE - NOT VAT REGISTERED

Client/site/dates
Vat method Not Registered

- - -
4/1/2016 A Agency Invoice 001 4,500.00 4,500.00 - 4,500.00 Sales income
4/2/2016 Transfer to c/a 5,000.00 (5,000.00) - - -
Example only
5/30/2016 Tax refunded 400.00 400.00 - 400.00 Tax paid
- - -
- - -
Expenses - - -
- - -
- - -
4/3/2016 PAYE (500.00) (500.00) - (500.00) Tax paid
4/4/2016 Salary (500.00) (500.00) - (500.00) Salary
4/29/2016 Every phone (89.00) (89.00) - (89.00) Vat expense Mobile phone
5/4/2016 Salary (500.00) (500.00) - (500.00) Salary
5/30/2016 PC Galore (999.00) (999.00) - (999.00) Capital (vat) New Laptop
5/30/2016 Software Galore (250.00) (250.00) - (250.00) Vat expense Contract speed software
6/4/2016 Salary (500.00) (500.00) - (500.00) Salary
6/10/2016 Pay credit card (1,178.00) 1,178.00 - - -
- - -
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

Example only


Claim 115.00 40.00 60.00 - - - 15.00 -

VAT return Errors
Box 3 Output Vat + imports -
Box 4 Inputs -
Box 5 Net vat due -
Box 6 Sales (net) -
Box 8 EC sales -
Box 9 EC goods -
WHITEFIELD - SMALL COMPANY ACCOUNTS SYSTEM home help
NOTES ON USAGE
These are guidance notes on the spreadsheet - see the "help" tab for guidance on a wide range of other topics
INTRODUCTION
This spreadsheet is intended to form the backbone of a simple transaction recording

system for a small company.
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
- Whitefield 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 prior to your sending your vat off. If there
are no amendments, then we will e-mail you a confirmation that all is in order.
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
where nnn = 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 1617 for 2016/2017
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 we 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 16, JAS 16 or, if preferred,

1 April 2016 to 30 June 2016, 1 July to 30 September 2016, or
April, May, June 2016, July, August, September 2016, 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.whitefieldtax.co.uk/web/psc-guide/pscguide-vat-for-pscs/ 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 drop down selection in
-h,i,j,k the vat analysis column K)
-i Details column – for extra details and information.
NB columns h,i and j formulate automatically and should not be written over.
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.
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 us, 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:WHITEFIELD OFFICE USE
This tab is for office use by Whitefield, relating to logging use of the sheet.
19/20 Tax Calculator Memo from performance summary
Enter annual (12 months) figures for 19/20: Profit @ 31/12 -

Salaries -
Company Income and Expenses Dividend -
DCA -
Business turnover excluding VAT - auto from summary
Travel and Subsistence expenses - auto from summary Link performance summary to model and add estimates to year end
Expenses other than T&S and Salaries - auto from summary ex perf Q4 estimate Projected
Employer Pension Contributions - auto from summary summary estimate Adjusts YE
Capital Expenditure (deducted via Capital Allowances) - auto from summary
Salary for Director - Sales - -
Salary for Secretary - Other income - -
Percentage Shareholding Director 50% Expenses - -
Percentage Shareholding Secretary 50% Auto calc - -
(these need to add up to 100%) Pension - -
Capital - -
Director and Shareholder other income
- - - -
Director - other employments, rents etc -
Director - other employments, rents etc - tax deducted - T&S Expenses if IR 35 case
Director - self employments -
Director - other dividends - Total expenses excl auto calc above -
Director - savings income - Enter any T&S as negative
Director - gross personal pension and Gift Aid (enter as positive) - detail
detail
Secretary - other employments, rents etc - detail
Secretary - other employments, rents etc - tax deducted - detail
Secretary - self employments -
Secretary - other dividends - Revised total non T&S -
Secretary - savings income - T&S analysed -
Secretary - gross personal pension and Gift Aid (enter as positive) - Add auto calc to T&S (assume all are T&S) -
Total T&S -
Brought forward reserves (optional) -
Check on profit and expense totals
Dividend policy
PBT per model excl salaries and ers -
Select automatic, basic rate, manual automatic above excl capital -
Automatic distributes all profits as dividend Difference -
Basic rate distributes the maximum dividend to keep within Basic Rate tax
Manual allows you to enter the amount of dividend manually IR35 calculations
If manual, enter the amount - analysis only, enter manually in B54 or B61
Computed dividend - Income caught by IR35 Q1 -

Q2 -
IR35 Status - adjusts director salary Q3 -
Q4 (e) -
Income caught by non public sector IR35
Select All, None or Part none -
If some income is caught by IR35 select part and enter the amount in the grey cell Summary DCA (cr as positive)
B/fwd from performance summary -
Income caught by public sector IR35 Manual adjustment to BF
If all income is caught by IR35 select all Total BF (creditor = positive) -
If some income is caught by IR35 select part and enter the amount in the grey cell In year transactions
Salaries -
Dividends -
IR35 calculations Drawings -
Income caught by non public sector IR35 - SA and Tax paid -
Income caught by public sector IR35 - Cash expenses not reimbursed -
Employer Pension Contributions - Net Salaries
5% expense allowance -
Deemed salary - after grossing down for employers NI - Director Gross salary -
Ees (enter from payroll summary)
Company Accounts 19/20 £ Tax (enter from payroll summary) -
Turnover - Secretary Gross salary -

Ees (enter from payroll summary)
Travel and Subsistence expenses - Tax (enter from payroll summary) -
Employer Pension Contributions - Projected dividend -
Salary - director - Drawings in Q4

Salary - secretary -
Ers NI - director -
Employment allowance -
Other adjustments
Subject to CT -
Corporation Tax (after Capital Allowances) -
Profit after CT -
Brought forward reserves -
Dividend - CF DCA -
Reserves c/fwd -
Tax Summary
Dividend - director -
Dividend - secretary - Corporation Tax -
Tax Due Director Secretary Total
Personal Tax Salary and other income - director - Personal Tax - - -

Personal Tax Salary and other income - secretary - Less under PAYE - - -
Personal Tax Dividend - director - Dividend Tax - - -
Personal Tax Dividend - secretary -
Ers Ni - director - Total due - - -

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WHITEFIELD - SMALL COMPANY ACCOUNTS SYSTEM - 19/20

Company information Enter your basic company information here

Vat summaries Views your vat returns and summaries here

Quarter 3 Your transactions entered quarterly

Planning questionnaire Send this to us at the end of quarter 3

Year end questionnaire Send this to us at your year end

Dividend vouchers For documenting dividends for tax compliance

Examples Help on using this sheet

Guidance notes Help on using this sheet

Whitefield office use (1) For Whitefields use

Company Name Company Name

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 2019

Vat Registration Number * ENTER REG NUMBER HERE

For help and guidance visit https://www.whitefieldtax.co.uk/help/whitefield-transaction-recording-system/user-guide/

Help with this sheet

Our postal address: Whitefield Tax Limited

Main office phone: 01983 614108 (9-3 daily)

Direct phone and emails below, email is always preferred.

Deborah Richards, Office Manager Administration support

Help and Guidance

Working with us – Forms and Administration for Clients

Pay your Accounting Fees by Credit Card

Budgets and Statements

Making Tax Digital

Resources for Personal Service Companies

Whitefield and PSCs – an introduction to us and you

IR35 for Personal Service Companies

IR35 resources on our site

General Topics for Personal Service Companies

Running a Personal Service Company

Accountants References – Lending/Renting/Verification

Tax Rates and Calculations for a Personal Service Company

How the company and contractor are taxed

Expenses for a Personal Service Company

Expense claims & allowances

Tax Topics for a Personal Service Company

Record Keeping for a Personal Service Company

us to do your return for you and pay via credit card

Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 5

CAUTION: WHEN FILING ONLINE BOXES 3 AND 5 ARE AUTOMATICALLY GENERATED

Box 1 Output Vat - - - - -

Notes re the flat rate scheme

With the Flat Rate Scheme, you:

To apply go to: VAT notice 733

Also see https://www.whitefieldtax.co.uk/help/vat-for-pscs/

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

Any other activity not listed elsewhere 12.00% Remember there is a

Contact details: Contract details (this quarter):

Business current Cash/ personal Business credit Business deposit

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

Balance per statement - -

Car passenger nights away from nights away from

Mileage year to date (not including this quarter) - -

Engine size in CC Not specified Not specified No vat claim

VAT return details for online filing Errors

Contact details: Contract details (this quarter):

Business current Cash/ personal Business credit Business deposit

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

Balance per statement -