Don't know if anyone can help me with this! But any thoughts gratefully received.
One of my clients has just started making exempt sales and is therefore partially exempt for VAT purposes (started making exempt sales from November, the VAT period I am doing is November to January). She is also on cash accounting for VAT. I have done the necessary calculations but there are items included in the report from Quickbooks that are late items posted after the completion of the August, Sept, October VAT return. My question is, as these items should have been included in the earlier return before partial exemption, is it ok to include these in this return and reclaim all the VAT?
Thanks for your reply Richard. The late items were expenses paid for by director's personal funds and some petty cash items that I didn't know about until after submitting the return!
