Salary question

Diddums · 18 Jul 2019 at 11:57

My first ever annual forecast (I know right? I'm so excited!)

I'm adding up loads of costs, all ex. VAT.

I've got salary figures for my team, I need to add them to the list, but is this generally with or without VAT?

peterwalkley · 18 Jul 2019 at 11:59

No VAT on salaries.

It's "value added tax". If they're anything like you, there's no value added

Diddums · 18 Jul 2019 at 12:01

peterwalkley said:
No VAT on salaries.

It's "value added tax". If they're anything like you, there's no value added

Hurrr hurrrr, cheers fella, I'm slowly getting the hang of this manager rubbish, I can't be doing too badly, I'm starting on my boss' personal portfolio next week too, starting off with his mum's £1.9m flat, his £9m country house and his £11m London pad. I might have to fly to Boston in his personal jet in the next few weeks too to carry out some audits on our Boston offices.

It's a hard life this

Rids · 18 Jul 2019 at 12:13

From a finance person - if you're doing forecast figures for future years please do not forget to include incremental pay rises for your team!

peterwalkley · 18 Jul 2019 at 12:15

On a more serious note: you should check whether benefits-in-kind for the employees should be included in your figures (pensions, life insurance, BUPA, company cars etc). Those can make a big difference to budgets.

Diddums · 18 Jul 2019 at 12:19

Rids said:
From a finance person - if you're doing forecast figures for future years please do not forget to include incremental pay rises for your team!

Yep, included. Cheers

peterwalkley said:
On a more serious note: you should check whether benefits-in-kind for the employees should be included in your figures (pensions, life insurance, BUPA, company cars etc). Those can make a big difference to budgets.

Aha! This is a good point, I'll go speak to the hot chick at payroll and see what she says.

Russinating · 18 Jul 2019 at 12:38

What job do you do where you're in charge of annual forecasts but you don't know if salaries are VATable?

Also, salary != cost.

DampCat · 18 Jul 2019 at 12:38

It's imperative you include Gucci Belts also.

Just kidding. Nothing helpful to add just bookmarking this for when I hire staff later this year.

Diddums · 18 Jul 2019 at 12:59

Russinating said:
What job do you do where you're in charge of annual forecasts but you don't know if salaries are VATable?

Also, salary != cost.

Building manager, but not as you know it Jim!

I manage everything. It's weird, working for a very demanding billionaire means my job has no beginning and no end, I just do it all.

Bounce · 18 Jul 2019 at 13:08

Diddums said:
Building manager, but not as you know it Jim!

I manage everything. It's weird, working for a very demanding billionaire means my job has no beginning and no end, I just do it all.

sounds more like a glamorized PA job.

mrk · 18 Jul 2019 at 13:15

peterwalkley said:
No VAT on salaries.

It's "value added tax". If they're anything like you, there's no value added

PA Diddums might need an extinguisher for that burn

peterwalkley · 18 Jul 2019 at 13:28

mrk said:
PA Diddums might need an extinguisher for that burn

I'm sure he'll take revenge at some point

Gotta keep this forum alive with decent jokes if we can.

Diddums · 18 Jul 2019 at 13:52

Bounce said:
sounds more like a glamorized PA job.

His PA drives me nuts. She literally rang me up last night (ooooh errr missus) and said "need your forecast by COB tomoz. Oh btw you're now also looking after ALL THE OTHER STUFF LOLOLOL".

She's ace, don't get me wrong, I just wish I had a bit more time.

peterwalkley said:
I'm sure he'll take revenge at some point Gotta keep this forum alive with decent jokes if we can.

They hurt best when you least expect it. I'm fairly thick skinned though, even Psycho Sonny couldn't get under my skin.

Funky-Melon · 18 Jul 2019 at 16:18

Diddums said:
I manage everything. It's weird, working for a very demanding billionaire means my job has no beginning and no end, I just do it all.

I read that and just pictured you in The Devil Wears Prada, only fatter....

jellybeard999 · 18 Jul 2019 at 16:41

Russinating said:
What job do you do where you're in charge of annual forecasts but you don't know if salaries are VATable?

Also, salary != cost.

This :s

Also don't forget NI, Tax, Pension etc etc.

Diddums · 18 Jul 2019 at 16:59

Funky-Melon said:
I read that and just pictured you in The Devil Wears Prada, only fatter....

Ha! I rock a short mini and some Christian Louboutins, make no mistake.

azazl187 · 18 Jul 2019 at 18:43

Rids said:
From a finance person - if you're doing forecast figures for future years please do not forget to include incremental pay rises for your team!

Pay rises hahaha. Don't swear

azazl187 · 18 Jul 2019 at 18:45

Diddums said:
Building manager, but not as you know it Jim!

I manage everything. It's weird, working for a very demanding billionaire means my job has no beginning and no end, I just do it all.

A busy body then

. But seriously, PA roles can be very demanding plus you need the patience of a saint.

Mark1989 · 18 Jul 2019 at 18:47

Please include corner sofas for said budgets

Jokester · 18 Jul 2019 at 18:51

When you say staff, are they really staff or are some or all contractors?

Makes a big difference with costs.