Sage Line 50 VAT on Bad Debts
jewels.p
Registered Posts: 1,774 Beyond epic contributor 🧙♂️
Hoping someone can help me. I am using Sage Line 50 2011. When you write off a Bad Debt using the Bad Debt Wizard does it reclaim the VAT on your return on Sage or do you have to do something else? I thought it did but had a query on the Return so have been googling and a few people have been saying that the Wizard doesn't reclaim the VAT on Sage. I have written off quite a large debt in March as the Customer went into Administration (debt is over six months old) and am in the process of doing my Return for filing so don't want to get it wrong. I also wrote one off last year and if I have been doing it wrong am I right in thinking I can still claim for this as having looked at the HMRC Website it states that you can reclaim within 4 years & 6 months of the later of the date payment was due & payable or the date of supply.
Any help would be greatly appreciated.
Thanks
Any help would be greatly appreciated.
Thanks
0
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