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Post Info TOPIC: VAT calculation
Silly Digits


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Posts: 200
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VAT calculation
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I have a new client who has registered for VAT as it went over the 70K limit.  How do I work out the VAT on sales.  The date of registration is before they went over 70K limit by a few days.  Do I just take of the 70K and then VAT on balance or work out from the registration date?



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MarkS


Expert

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Posts: 1501
Date:
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Hi SD

VAT should be applied from the date of registration.

Technically they were required to register from the start of the month after when they went above the £70k eg if they went above the £70k in Feb 2011 they should be registered from 1 April 2011.

MarkS



__________________

Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
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