[ronnie paton]

ok im soon to be paying vat on the flat rate and on money collected.

Now if i register say 1st of december how do i go about working out my vat? for example it wont be all money come in from december 1st has some of the jobs will have been cleaned previous to this date.

Any help appreciated.

[cwc]

Vat will be due on your work done from date of registration, money from before, is earned before, so no vat due.

Cheers

Andy

[ronnie paton]

it will be paid on money come in for work done has im on cash accounting but what i need help with is the how im going to work it out has its very confusing.

Not all the money /cash come in from the date i went registered will be vat deductable, im on wcpro is there any way to work thins out on there to make me working my vat bill out easily?/

like reports than show me work paid for from the a certain date?

[Neil Williams]

No.
It's called Cash Accounting, so you only pay/charge Vat on money received in. This method as opposed to the other methods of vat means you won't have to pay the vat man for jobs done when some clients don't pay you for 6 months.
You only pay the Vat man on actual money received into the bank, and it becomes liable from the date you have requested ie 1 December.
It is tricky for a while whilst you keep track of money received from jobs done prior to 1 december and money received from work done after 1 December.

[Rogue Trader]

Thats right , VAT is payable on all monies recieved but tax is payable on all work invoiced , if that debt turns bad then you can redeem it off next years tax bill.

[ronnie paton]

matt not true i do cash accounting and only pay tax on cash recieved!!!!

neil
so i just have to keep check on every payment and if it wa cleaned after being registered? this will be a really pain but i gues after three it will be straight forward.

hoping wcpro has a report capable of making it easier

[Neil Williams]

Think of it this way:
Draw a line in the sand called 1 December
All work done prior to that date was done by 'Ronnie Patton One' and no matter when they pay/paid are not subject to Vat
All work done after that date was done by 'Ronnie Patton Two'  and will have a Vat badge attached to it.
Yes you are going to get some overlapping with pre and post 1 December payments coming in but it's not too difficult to know what is what. Normally after about 2 months everyone is sorted.