Vat Return

Question asked by Kelly Patel 10 years ago

Why are sales figures being shown as vat on sales.

1 Reply

Vanish Patel

477 entries

Hello Kelly,

For Box 1, it will show VAT from Sales Box 2 will be VAT on Purchases

Box 6 is the Net amount of Sales Box 7 is the Net amount of Purchases.

If you are on the FRS VAT scheme, the amount charged will be on the gross amount of sales then multiplied by the flat rate percentage.

Please can you also give further guidance on where you are looking and what the overall question is.

Vanish

10 years ago

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