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martin perry

  • Posts: 3
VAT Return Help
« on: April 24, 2013, 06:14:24 pm »
 I have just got my 1st Vat Return reminder and as i have just started on my own i cant really afford an accountant just yet. There are 9 boxes to fill in and as its my 1st time i want to get it right .
I dont charge VAT

the only VAT i need to claim back is for Diesel, Rubbers etc , i dont buy from abroad, i dont owe VAT to anyone and nobody owes my VAT so which box is this as i think most boxes input value is 0.00

Many Thanks in advance

deeege

  • Posts: 4994
Re: VAT Return Help
« Reply #1 on: April 24, 2013, 06:16:54 pm »
Are you sure you should be Vat registered? If you are you should be able to easily afford an accountant for help with this.
"....and it's lend me ten pounds, I'll buy you a drink, and mother wake me early in the morning."

Rob_Mac

Re: VAT Return Help
« Reply #2 on: April 24, 2013, 06:18:57 pm »
Have you earned in excess of £77000.00, even though you have just started or is it a tax return you are filling in?

Rob ;D

dave0123

  • Posts: 3553
Re: VAT Return Help
« Reply #3 on: April 24, 2013, 06:29:18 pm »
if your vat registered you should be charging your customers vat.. u cant just get the 20% off fuel and stuff but not charge for vat lol.. unless ur taking the 20% hit on it.


Dave.

Neil Jones

  • Posts: 1592
Re: VAT Return Help
« Reply #4 on: April 24, 2013, 08:19:08 pm »
I think he means his tax return. Imagine just starting out and being VAT registered, what's your secret?

dave0123

  • Posts: 3553
Re: VAT Return Help
« Reply #5 on: April 24, 2013, 08:24:03 pm »
You can register for vat at any turnover stage if you want to, but i imagine he means tax return yes.
Dave.

AJ

  • Posts: 1262
Re: VAT Return Help
« Reply #6 on: April 24, 2013, 09:09:00 pm »
if your turnover is under 150k you are eligible for flat rate vat, but ypu have to apply for it.
much simpler, just add up your total turnover inclusive of the vat you have charged then pay 12% to HMRC.

If you haven't charged vat on top of your rates, you made a booboo cos you will still be charged. If you have a reminder you better get it sorted cos you will also get a fine for being late with it.

Moderator David@stives

  • Posts: 8829
Re: VAT Return Help
« Reply #7 on: April 24, 2013, 09:10:28 pm »
You NEED to speak to an accountant  asap