bank interest received flat rate VAT
oldlady
Registered Posts: 10 New contributor 🐸
Has anyone been asked to account for VAT on bank interest for flat rate?
0
Comments
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Hi
If you mean interest received from HMR&C on VAT monies owed to a business then this falls out of the scope for VAT.
Poodle0 -
I know some people argue that it should be included in taxable turnover, but I asked a visiting VAT inspector and he said that it could be excluded.0
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