Home For AAT student members AQ 2013 AAT Level 2 (Level 5 in Scotland)
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


VAT - Bad Debt Relif?

A-VicA-Vic Expertise GuaranteedRegistered Posts: 6,970
Hi another quick one

do you treat bad debt VAT reclaim as a purchase? therefore reclaim the VAT as output VAT and enter the net figure in purchases?

Comments

  • crispycrispy Trusted Regular SouthamptonRegistered Posts: 456
    Hello,

    When writng off a Bad Debt that includes VAT the journal would be :-

    Dr Bad & Doubtful Debts Expense (Net)
    Dr VAT Control A/c (VAT)
    Cr Debtors Control A/c (Gross)

    On the VAT form the bad debt VAT reclaim I believe should be included with your Inputs (Box 4).


    Hope this helps :001_smile:
  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    Thanks Crispy :thumbup:

    Not to sure on it yet heavy weekend studying planned, simulation Wens.
Sign In or Register to comment.