Hi there - filling my online tax return i am not sure if the total turnover should include VAT or not - if it does - where do i put the money i paid out to the VAT man? (i'm on flat rate scheme if it makes a difference)
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
self assessment - total turnover include VAT or not?
Collapse
X
-
-
Assuming that you are self employed, your turnover should be net of VAT on the self employment pages.
If you are referring to the corporation tax return, it is again the same (turnover net of VAT). The net turnover will be gross sales less flat rate VAT amount. -
Originally posted by Craig@InTouch View PostAssuming that you are self employed, your turnover should be net of VAT on the self employment pages.
If you are referring to the corporation tax return, it is again the same (turnover net of VAT). The net turnover will be gross sales less flat rate VAT amount.Comment
-
Originally posted by mmoalem View PostHi there - filling my online tax return i am not sure if the total turnover should include VAT or not - if it does - where do i put the money i paid out to the VAT man? (i'm on flat rate scheme if it makes a difference)What happens in General, stays in General.You know what they say about assumptions!Comment
-
Originally posted by mmoalem View Posthi there and thanks for the reply. this is what i though but when i called the help line to check the guy told me it should include the vat and the paid out vat goes into box 29 (other business expenses) - sounds like he was incompetent but need to be double sure...Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment