Hi everyone. I am just filling in my first VAT return online, but was wondering if someone could give me an example of how to do it correctly. Could anyone in-the-know please put the amounts next to each of the following 9 questions based on the following example figures? This would be greatly appreciated:
Also does any one know if i can claim for VAT return on items i bought for my company like PC, Printer, Scanner and how to do it
(can i claim VAT return on services, insurance, software license,server, website expenses?) Theres any period limits, like 6 months 1 year etc?
- income: £2330 + VAT received £466 = total including VAT £2796
- income with 0 VAT £1765
- Total expenses £3607.37 + No VAT paid as expenses paid to other EC member company outside UK
(all VAT amounts that I have received at 20%)
1. VAT due in this period on sales and other outputs (Box 1):
2. VAT due in this period on acquisitions from other EC Member States (Box 2)
3. Total VAT due (the sum of boxes 1 and 2) (Box 3):
4. VAT reclaimed in this period on purchases and other inputs, (including acquisitions from the EC) (Box 4):
5. Net VAT to be paid to HM Revenue & Customs or reclaimed by you (Difference between boxes 3 and 4) (Box 5):
6. Total value of sales and all other outputs excluding any VAT. Include your box 8 figure (Box 6):
7. Total value of purchases and all other inputs excluding any VAT. Include your box 9 figure (Box 7):
8. Total value of all supplies of goods and related costs, excluding any VAT, to other EC Member States (Box 8):
9. Total value of all acquisitions of goods and related costs, excluding any VAT, from other EC Member States (Box 9):
Hi Maria There isnt really enough here to go on here to give you all the answers you are looking for. Eg we dont know place of supply/ why you have income with no VAT if you are VAT registered (is this correct?), plus are the items wholly and exclusively for the business/who bought the items/when they were bought in terms of the PC etc). There is no VAT on insurance. It seems that you are actually wanting someone to complete the VAT return for you by suggesting which boxes the items go in, although I may have read this incorrectly, so apologies if this isnt the case.
Best place to start is HMRC with their VAT guides - they are very comprehensive and once youve read what you can and cannot claim there is one that even tells you box by box how to fill it in. Here are two to get you going, plus a link showing the rest - you will need to read up on the ones relevant to your type of business/the fact that you bring in/sell to the EU (be aware also you may need to do extra reporting under that side of things eg EC Sales List etc)
Income with 0 VAT on forwarded goods delivered outside EU
If transported goods last destination is outside EU you don't charge VAT on transport sales or forwarding
I done EC list already.
