Dispensing Doctors & VAT Partial Exemption HELP!!
Options
Can anyone give me any pointers regarding doctors accounts and VAT partial exemption.
I have recently taken over the accountancy for a 4 GP village practice who have a dispensary.
Looking at all the information on the Revenue website I am happy with the accounts side of things and doctors personal expenses and adjustments for CA's on private vehicles used for practice work.
BUT and it's a big BUT I don't feel 100% on the VAT partial exemption - the previous accountant is reluctant to provide me with a copy of their calculations for the last quarter; even though I have requested this information - they have happily provided a copy of the vat return though.
I've tried speaking to HMR&C VAT helpline which was next to useless!!
I believe there are some adjustments which need to be made in connection with personally administered income and a percentage calculation based on the doctors dispensing fee scale.
Any pointers or help would be greatly appreciated.
Thanks
I have recently taken over the accountancy for a 4 GP village practice who have a dispensary.
Looking at all the information on the Revenue website I am happy with the accounts side of things and doctors personal expenses and adjustments for CA's on private vehicles used for practice work.
BUT and it's a big BUT I don't feel 100% on the VAT partial exemption - the previous accountant is reluctant to provide me with a copy of their calculations for the last quarter; even though I have requested this information - they have happily provided a copy of the vat return though.
I've tried speaking to HMR&C VAT helpline which was next to useless!!
I believe there are some adjustments which need to be made in connection with personally administered income and a percentage calculation based on the doctors dispensing fee scale.
Any pointers or help would be greatly appreciated.
Thanks
0
Comments
-
Dear Vonni
You could start by having a look here
http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_PublicNoticesAndInfoSheets&propertyType=document&columns=1&id=HMCE_CL_000857
Please do not take this the wrong way but If you are not sure on this then perhaps you should reconsider accepting the appointment. VAT can, at times be tricky enough but If you get the calculations wrong with partial exemption then you could end up costing your client dearly and this in turn will only come back on you.
Julia0 -
Have a look at the following link which applies to medical professional.
http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageExcise_ShowContent&id=HMCE_CL_000121&propertyType=document0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 269 NEW! Qualifications 2022
- 148 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 44 AAT Level 3 Diploma in Accounting
- 65 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.3K General accounting discussion
- 195 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership