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Post Info TOPIC: Turnover, Funding & Vat
ADAS


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Turnover, Funding & Vat
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Hi Folks,

Can someone confirm if my logic is correct please. A client of mine is close to the VAT registration threshold and depending on how Govt funding is treated will be key.

Am I correct in thinking -  that the receipt of funding doesn't count as turnover because in effect it is the repayment of expenses incurred by the company?

TIA...


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Tony

Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
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gbm


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Correct, it is not turnover.

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Nick

Website: www.gbmaccounts.co.uk
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ADAS


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Thanks Nick !!

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Tony

Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
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