Box 7 on Vat Return

teakay25

Hi All,

Box 7 on the vat return is the figure of total vatable purchases excluding vat but is it the items which are 'outside the scope of vat' which we deduct off or 'exempt' items or both?

Can anyone advise?

Kind Regards

Teakay25

Peter W

You should include exempt inputs in box 7. You do not include items outside the scope of VAT. The items which do NOT get included are:

VAT itself
Wages and salaries
PAYE and National Insurance contributions
Money put into and taken out of the business by you
Loans, dividends, and gifts of money
Insurance claims
Stock Exchange dealings (unless you are a financial institution)
MOT certificates
Motor vehicle licence duty
Local Authority rates

teakay25

Thanks for the reply Peter,

Kind Regards - Teakay25 :thumbup1: