FRS and Corporation tax turnover

[Craig@Clarity]

Eh? What happened there?

Confused.com!!

[VectraMan]

Thanks.

[Craig@Clarity]

That's spot on. Ex VAT = Gross less FRS at 14.5%

[VectraMan]

Eh? What happened there?

[VectraMan]

Sanity check please:

I'm attempting to do my CT600, and just to be sure, the "turnover" should be sales ex-VAT, plus the money that I've made by being on the FRS.

So if it was £10,000 sales for the year, that would be £12,000 gross * 14.5% = £1740 that I would have paid in VAT. So the gain is £2000 - £1740 = £260, making my turnover £10,260.

Am I doing the right thing? So far I have discrepency of £97 and I can't work out why.