Marginal VAT and stock book

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in AAT member discussion
Does anyone have an example of a stock book (preferably on excel) as required for the marginal VAT scheme?

My husband is starting a business buying and selling boats. I've established that marginal VAT is applicable, as with car dealers, and am looking at setting up the necessary bookeeping on Excel.

Any help or advice will be gratefully received.

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Marginal VAT and stock book

    Hi

    I used excel for a second hand car dealer in my previous employment. I can't give you the actual spreadsheet used, but from memory I used headings of:-
    Date purchased
    Purchase Inv No
    Type/Make of Car
    Reg no
    Date sold
    Sales Inv No
    Purchase Price
    Sale Price
    Profit ( used formula )
    VAT amount (ie on margin, again used formula)

    Mind's gone blank can't remember the fraction to work out VAT - :oops: , but it is late

    Used stock book to keep track of stock (Obviously, :lol: )and then used Sage for rest of bookkeeping.

    Hope this helps

    Jan



  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Marginal VAT and stock book

    Thanks, that seems fairly straightforward, I'm sure I can set that up on excel.

    If anyone's got any excel bookeeping examples, I'd be grateful, save me reinventing the wheel.

    Thanks.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Marginal VAT and stock book

    Hi
    I do have one but it's at home on laptop so if you cn let me have your e-mail address I can send it to you later tonight.

    Regards
    Sharon
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Marginal VAT and stock book

    hancock5@blueyonder.co.uk

    Many thanks.

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