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Post Info TOPIC: VAT return on sales
chick22


Newbie

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VAT return on sales
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Hi all,

I am currently preparing my first vat return and am a little stuck. . .

we are a business based on 3 shops and the magical tills we purchased have stopped working so I am unable to find the exact amount of vat charged to customers.

is it ok to find the amount paid in vat for the things we are selling on with minus 10% for wastage, plus 40% mark-up??

Or is this too simple??

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BackOfficeGroup


Guru

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Hi and welcome

First off, what is your business? The answer all depends on whether you have any zero rated sales or not?

P

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chick22


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fruit n veg mainly so zero rate on the whole

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farmergiles


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Suggest that if you are selling vatable & non- vatable products and your tills have packed in  then you have a look at the "apportionment scheme" on the VAT website.

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chick22


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cheers farmergiles. used the apportionment scheme n it seemed a good method. smile

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