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rob


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Posts: 14
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VAT 100 Form question.
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Hi,

Quick question about filling out this form,

Should expense vat be included in box 4?

Going by the example i have, it is included but then not included when calculating the vat to be paid (box 5).

Why is this? If it is included in the total for box 4 shouldnt it be incuded when working out the total vat to pay?

Thanks in advance

Rob

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Julie


Senior Member

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Posts: 301
Date:
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Rob,

My understanding of VAT is ;

Box 1 - VAT due on sales and other outputs in the period.
Box 2 - VAT due from you on acquisitions of goods from other EC Members
Box 3 - the totals of boxes 1 + 2
Box 4 - the input tax you are entitled to claim for the period ie purchases / expenses (make sure you have receipts to back up what you are claiming). 
Box 5 - the difference between the figures from boxes 3 + 4.  If in box 3 greater than box 4, this is what you must pay HMRC, if it is less HMRC pays you !

Hope this helps ?

Julie

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rob


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Posts: 14
Date:
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Thats what i thought, just the fact that the example i have shows something else.

Thanks

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