VAT on derv

Discussion in 'Agricultural Matters' started by Spudie, Mar 15, 2019.

  1. Spudie

    Spudie Member

    Ards C.Down
    Doing vat and am fed up tying to keep all those little till receipts for the returns. What's everyone else's method. Garages don't want accounts any more. Any cards give you breakdown to make it simpler.
  2. norse

    norse Member

    A woman from the vat office told me that the best way was to put all the till slips in an envelope and total them up on the back of it and then treat it as one invoice.
    Farmer-George, Grassman, wr. and 2 others like this.
  3. Spudie

    Spudie Member

    Ards C.Down
    But it's holding on to the little buggers. When collected in jeep their so small not like proper invoices
  4. powerontheland

    Hockley Essex
    My mrs sticks them to a sheet of A4
    Grassman likes this.
  5. norse

    norse Member

    Put the envelope in the jeep glovebox!
    AF Salers, wr., ollie989898 and 3 others like this.
  6. neilo

    neilo Member

    On a friends' recommendation, I got FuelGenie cards for Mrs NeilO and me. Only work in supermarket garages, but you can get other options too. Using it is similar to using a Credit Card and I get one invoice emailed each month, with a DD taken a few weeks after.
    No monthly fee.
    Yale, ollie989898, Spudie and 2 others like this.
  7. nick...

    nick... Member

    south norfolk
    I staple mine onto a4 and claim individually.normally 1 a fortnight.
  8. and fade away long before the 7 year requirement
    simon-0116, rob1 and ollie989898 like this.
  9. Is there not a phone app that camera logs VAT invoices now, in a similar way to how you can pay cheques into the bank over the phone?
  10. Flintstone

    Flintstone Member

    Just set up a DropBox account and then take a photo of the receipt when you get back to your truck, and upload it before screwing the receipt up and chucking it away.. I do that and they're all there at the end of the month.

  11. (y)

    Alternatively email yourself the photo, then file that email in a 'fuel' folder to keep them all together and backed up.
    Yale likes this.
  12. Flintstone

    Flintstone Member

    Yes, good idea.

    What I’ve done though is shared my monthly receipts DropBox file with my accountant (I put all invoices in the monthly DropBox files as well as fuel receipts) and then she does my VAT each month without even bothering me, and then I just see a VAT payment coming in each month.

    Works a treat.

    This is up one level and you scan see it’s a shared file. It’s free, and saves a heap of time.

    Pieces_of_Eight likes this.
  13. The Agrarian

    The Agrarian Member

    Co Antrim
    I use a fuel card. Emailed invoice. But the best of all to be quite honest is take bulk delivery. I know there's a theft risk, but if you can mitigate that it's well worth it. One invoice, and it's at your back door.
    msheep66, Tarw Coch, woody 1 and 3 others like this.
  14. Formatted

    Formatted Member

    Software like free-agent allows you to take a photo of the receipt on the go and you can come back and edit what its for
    Pieces_of_Eight likes this.
  15. Dry Rot

    Dry Rot Member

    Mine get clipped to the ash tray using the springy lid.

    When that's full, a handful are transferred to my egg box. (My problem then is finding sufficient egg boxes).

    HMRC did once inspect my books which were presented with the appropriate eggs boxes full of loose receipts.

    They came back all sorted and clipped together. The inspector presented me with an HMRC booklet entitled, "How to keep your accounts" (or something similar -- I haven't read it) and the words, "We won't be inspecting YOU again!".

    So far, so good.;)
  16. glasshouse

    glasshouse Member

    Buy in bulk:banghead:
  17. slackjawedyokel

    Get a tank and buy in bulk (obvs doesn’t work so well if you often work well away from home though).
  18. Courier

    Courier Member

    Storing DERV on farm very rarely makes financial sense nowadays unless you can buy in 20,000 litre tanker loads - A permanently discounted fuel card which tracks the wholesale market will be no more expensive and less liable to unidentifiable losses.
    Cowabunga said:
    You really have to watch those card prices like a hawk though, because very often you will find them deducting more than local general pump prices.
    I would agree with the above on such as UKFuels, KeyFuels etc who will try to lure you in with a "prospecting price" which they compare to national averages often including motorway services and can end up varying wildly week to week and even appearing as a higher price than posted at the pump where you draw fuel.
    What you need is a price which is linked to the weekly wholesale ( PLATTS Rotterdam) price plus a fixed margin .

    We have been using this system for about 5 years now and the only time I have seen pump price at a similar level has been when there is a local supermarket promotion war.

    My regular discount from our local Esso station pump price is in the region of 5 to 6 ppl and I have known the discount compared to a Motorway Services station be as much as 20 pence per litre. (All prices are Ex VAT which is detailed in the bi-weekly invoice.)

    If your regular routes take you past a Costco then that will be competetive.
    neilo likes this.
  19. I always fill at Tesco - the clubcard points are equivalent to 4% discount, but come to me directly and personally, so more like 6% when you consider tax etc. Every little helps.
  20. Daddy Pig

    Daddy Pig Member

    went to a presentation today with quick books and receipt bank, take a photo of receipt, upload it and receipt bank reads it and transfers it across to quickbooks.simples.
    Pieces_of_Eight likes this.

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