Originally posted by Lucifer Box
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Remember that when invoicing for items (and you are charging VAT to the total invoice) you invoice the value minus VAT.
i.e. if you bought a car park ticket for £117.50 then you invoice for £100 and reclaim the 17.50 of your VAT.
The customer is invoiced for 100 + VAT which is £117.50. The difference comes about when train and air tickets are involved as these are VAT exempt (or zero-rated there is a difference but I' not going into it here) then the customer pays VAT on a non-rated supply, but as explained before the service of providing it is VAT supplied.Comment
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Thanks - I think I get the VAT now
I understand the VAT thing now.
I add up all the costs, take off the VAT on the taxi to Heathrow (all other stuff would be zero rated or have New York sales tax on it).
Then I add 17.5% to the invoice.
To whom do I pay income tax if my company pays me for the work (Dual National, USA domicile, British Resident and Ordinary Resident)?Comment
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Originally posted by hugebrainI understand the VAT thing now.
I add up all the costs, take off the VAT on the taxi to Heathrow (all other stuff would be zero rated or have New York sales tax on it).
Then I add 17.5% to the invoice.
To whom do I pay income tax if my company pays me for the work (Dual National, USA domicile, British Resident and Ordinary Resident)?
Talk to your accountant...
Older and ...well, just older!!Comment
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