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Post Info TOPIC: VAT for commission earned BEFORE registering but paid AFTER registered
KBS


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VAT for commission earned BEFORE registering but paid AFTER registered
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I have a client who registered for VAT (cash accounting) as of 1st September 2013. He earned commission for August 2013 but was paid for this on 19th September 2013. Should this be included in the VAT return????



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abacus12345


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Yes. As the tax point being when cash is received.

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KBS


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Thank you very much!!

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KBS


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Just checking, I already know the answer but just DOUBLE checking as this is my first VAT return as a self employed bookkeeper...VAT is due on commission earned?

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abacus12345


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Assuming the commission is not zero rated, nor exempt, then yes, vat is payable. Commission earned is revenue earned. The tax point being, the date cash was received. Due to being in the cash scheme. This would not necessarily be the case if they are not using the cash scheme.

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