vat returen

in vat return,box 6, do i need to deduct the sales credit note or not? and also what's the different between box 8 and box 9? is acquisition means buying ? please help. thanks

Comments

  • AK002
    AK002 Registered Posts: 2,492
    Off the top of my head sales credits should be deducted from sales, and difference between box 8 and 9, one is for EU sales and one is for EU purchases IIRC, can't say for certain as i don't have a return in front of me!

    Maybe someone else will confirm..
  • meibaker
    meibaker Registered Posts: 481
    thanks for that,but i did exactly the same deduct the credit note , but the answer is wrong, answer on the box didn't deduct the credit note, now, i am confused.
  • AK002
    AK002 Registered Posts: 2,492
    I see, does it add it on to purchases by any chance?
  • meibaker
    meibaker Registered Posts: 481
    i am also doing a vat control account for the oct- dec
    bad debts written off during the year are
    £528.75 (invoice due 15 march, goods supplies 14 feb)
    £693.21 (invoice due 20 aug, goods supplied 20 july)
    invoice totals include vat
    but the answer is 78.75(which is the vat from £528.75.why other inovice is not included then) thanks
  • meibaker
    meibaker Registered Posts: 481
    you means in box 4, it did deduct the vat from the credit note, that's why i thought in box 6, it should do the same too, but the answer tells the different.
  • AK002
    AK002 Registered Posts: 2,492
    That will be becuase you can't claim the VAT back on bad debts until after 6 months, so the first invoice due march is and the other one won't be due to be reclaimed for another 2 months.
  • meibaker
    meibaker Registered Posts: 481
    yes,i see. thanks so much for your help.
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