Box 7 on Vat Return

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teakay25
teakay25 Registered Posts: 43 Regular contributor ⭐
in General accounting discussion
Hi All,

Box 7 on the vat return is the figure of total vatable purchases excluding vat but is it the items which are 'outside the scope of vat' which we deduct off or 'exempt' items or both?

Can anyone advise?

Kind Regards

Teakay25

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  • Peter W
    Peter W Registered Posts: 22 New contributor 🐸
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    You should include exempt inputs in box 7. You do not include items outside the scope of VAT. The items which do NOT get included are:

    VAT itself
    Wages and salaries
    PAYE and National Insurance contributions
    Money put into and taken out of the business by you
    Loans, dividends, and gifts of money
    Insurance claims
    Stock Exchange dealings (unless you are a financial institution)
    MOT certificates
    Motor vehicle licence duty
    Local Authority rates
  • teakay25
    teakay25 Registered Posts: 43 Regular contributor ⭐
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    Thanks for the reply Peter,

    Kind Regards - Teakay25 :thumbup1:

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