VAT Fuel Scale Charge
Quick question for the Tax experts on here.
I've tried to find confirmation on the HMRC, Business Link and other various websites but I am failing.
With regard to the payment of the Fuel Scale Charge (FSC), it increased 1st May 2011 but states that it is to be applied from the start of the next prescribed accounting period after 1st May 2011.
My understanding is that as our VAT quarter is for Mar, Apr May then we would apply this increase to the next VAT quarter and not calculate separate charges for the individual months.
Please can someone confirm this is the case.
Many Thanks.
Jo
I've tried to find confirmation on the HMRC, Business Link and other various websites but I am failing.
With regard to the payment of the Fuel Scale Charge (FSC), it increased 1st May 2011 but states that it is to be applied from the start of the next prescribed accounting period after 1st May 2011.
My understanding is that as our VAT quarter is for Mar, Apr May then we would apply this increase to the next VAT quarter and not calculate separate charges for the individual months.
Please can someone confirm this is the case.
Many Thanks.
Jo
0
Comments
-
I had the same query a while back so I rang and spoke with the VAT office and they confirmed that it starts from the next prescribed accounting VAT period so you are correct in saying that it begins from the next quarter. Obviously those doing it monthly would be using the correct rates from May.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 156 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 92 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 274 Tax
- 136 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership