Take a free trial of Clear Books Or take a look at our new product Clear Books Micro

"Exclude from VAT return" option on purchases

Question asked by Daljit Virdee 6 months ago

Hi,

When entering purchases, if we select "exclude from VAT return" (or if Clearbooks correctly defaults to that when selecting some categories - for example Bank Charges), does that mean that the value will not show up in Box 7 of the VAT return?

Thanks.

1 Reply

Hi Daljit,

Yes. If you exclude from VAT return then the value will not appear on the VAT return at all as it is excluded from VAT.

All the best,

Mohamed.

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are