Question asked by James Pattinson 11 years ago
I am registered on the flat rate VAT scheme. Under this scheme it is allowed to claim back the VAT on some capital purchases over £2000 gross value.
How can I do this with clearbooks? For example, I've created and paid a purchase invoice of £2280, of which £380 is claimable VAT.
When I create a return, there seems to be no way of adding this purchase to claim it back.
Any ideas?
Hello James,
The capital expense which you have incurred will be in Box 4 on the VAT return. As you have created and paid it off, the amount will show up in the VAT return relating to that purchase bill creation date.
Please note, the bill needs to be gross £2000+, for example you cannot have two bills for £1300 each totalling more than £2000. Those two bills will not show up on the VAT return Box 4, it needs to be one bill for £2600.
If that still does not solve your query, please can you give me further guidance.
Regards,
Vanish.
Thanks for your reply.
That's exactly how I am doing it. It's one bill of £2280 but never appeared in my VAT return. I will try again, now that I know it should be automatic.
Cheers
Oh, hey,I found the issue. I was using "Computer Equipment" as the account. When I changed this to "Plant & Equipment" it then appears in box 4.
Hello James,
That's great to hear. Hopefully in the future, it will be simpler when inputting the bill. I should have mentioned it was supposed to be set as a Fixed Asset account code for it to go to Box 4, sorry about that.
Let us know if you have any further problems.
Regards,
Vanish.
"Computer Equipment" is a fixed asset code.
Hi James,
That's odd - all accounts under the fixed assets account type should be treated in the same way. If you head to Settings>Codes and click on the Manage drop down list to the right of the account Computer Equipment, does the account type show as fixed assets?
If it does would it be possible to send the details of the Clear Books account you are working on so we can test it out?
Accounting 
You must 