FRS Vat surplus on corp tax submission

knowledgeispower Just JoinedRegistered Posts: 32
Hi there clever people,

quick question on Corp tax submission...client is registered for FRS vat and naturally has some surplus on vat after paying hmrc, which he uses in the business....I was always told that VAT is not a turnover, but according to HMRC that's where you need to enter it, is that right? do I need to add the difference between what's been charged out to what's been paid over - to the turnover? If I enter it as 'other income' it won't add it in to the total...pls help..thanks in advance


  • MarieNoelle
    MarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,433
    The FRS surplus has to be taxed somehow so stick it with turnover if your CT software doesn't have a separate category.
  • Lewin
    Lewin HorleyFMAAT, AAT Licensed Accountant Posts: 6
    What is the turnover policy per the statutory accounts?
  • knowledgeispower
    knowledgeispower Just Joined Registered Posts: 32
    Many thanks MarieNoelle
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