How could I organise my accounts such that I can pull my total sales including
VAT into the Box 6 total in the Income and GST Statement?
At present my sales go to one account and the VAT charged goes to another. But
VAT is paid from this latter account to HMRC so the balance of the account in a
quarter does not equal the total VAT received / charged.
On Sunday, 15 January 2023 at 19:39:36 GMT+3, Maf. King <m...@chilwell.net>
wrote:
On Sunday, 15 January 2023 16:30:38 GMT Paul W wrote:
> Thanks Maf. That seems like a neat solution. I'm almost there.
> Because I'm on the Flat Rate Scheme my Box 6 figure needs to be the total of
> sales including VAT but apart from my Accounts Receivable which goes to
> zero once the invoice is paid I don't see how to get that figure from
> anywhere. I mean my Income:Sales figure does not include the tax - that
> goes separately to my ouput VAT liability account (which I use to populate
> Box1).
>
> By the way I'm using 100pc VAT Free Bridge to read a spreadsheet and send
> the figures to HMRC.It is free and has worked well.
>
I've heard of but never looked at the flat rate scheme, so I can't really offer
any words on it.
but if you invoice for £100 + VAT, are you saying that Box1= 20 and box 6 =
120?
thanks for the tip on the VAT Bridge Free.... will investigate it before I do
my return later in the month!
regards,
Maf.
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