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Post Info TOPIC: Dealing with supplier invoices dated prior to VAT registration
sjl1974


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Dealing with supplier invoices dated prior to VAT registration
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Hello all, 

I am so glad I found this forum, there is a lot of good reading on here.

My question is...I have a client who has recently gone over the VAT threshold so we have registered for VAT from 01.02.22.  He then presented me with some January 22 supplier invoices, how do I deal with the VAT within these invoices?  Now that the Sage Accounting has been set up for VAT it wants me to enter the VAT code for these invoices. 

Should I enter them with a T9 code as they are dated before he was registered?

 

Thanks in advance for any advice given.

 

Sarah



-- Edited by sjl1974 on Tuesday 22nd of February 2022 09:27:35 AM

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No


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1st decide if they are valid for reclaiming vat.
www.gov.uk/vat-registration/purchases-made-before-registration

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sjl1974


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They are not valid for reclaiming VAT, as they were for consumables and used prior to the VAT registration date...??



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Leger


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Hi Sarah, and welcome to the forum. 

I would enter them as T9.  Just be careful when doing the first vat return not to include them in the vat return.  It's been 15 years since I last used Sage but I remember you either ticked/unticked a box to include earlier transactions.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
sjl1974


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Leger wrote:

Hi Sarah, and welcome to the forum. 

I would enter them as T9.  Just be careful when doing the first vat return not to include them in the vat return.  It's been 15 years since I last used Sage but I remember you either ticked/unticked a box to include earlier transactions.

 Hi John, and thank you.

Am I right in thinking that I can add, to box 7, any goods held in stock that were purchased prior to VAT registration date, so long as I have a VAT invoice to back up the purchase?



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Leger


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Others may have better advice but I would tally up the amount then do a journal for the vat element, cr purchases etc dr input vat.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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