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VAT FRS question

Question asked by Evan Jolly 9 months ago

Hi

I am currently on the FRS for VAT, but have some income that is 0% rated. On my VAT return these are still included in the figure on which the FR is calculated. Is this correct? And if so, why?

Thanks a lot

Evan

4 Replies

Hi John, thanks for the reply. So even though it is 0% rated it is still included in VAT inclusive turnover? Doesn't this mean that I am then paying 16.5% to HMRC on an invoice that had no VAT on?

Thanks!

Ok thanks John. This is actually my last quarter on FRS anyway. Thanks again for the help

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