I recently bought a travel ticket through an agency, and since airline taxes are weird, I can see my Card was charged in a few steps - £550 * 2 for two tickets (airline taxes included, no VAT) and a separate £80 which is the VAT on the whole ticket. I have no idea how to tag this £80 in my bank transaction, since quickfile only offers 20% or 5% rate. However I need to tell the system that this was the net amount of VAT charged. Anybody with an idea of what can be done here? Would really appreciate it.
You could just add VAT to the £550 line - as long as it’s accounted for, then it’s fine. Your entered purchase invoice doesn’t have to match exactly - as long as everything is accounted for and the values are the same, then it should be fine.
However, £80 isn’t 20% of £550. Do you know what rate it is? Should say on your invoice.
My bad everybody. Thanks a lot for chipping in with the answers. I checked in the invoice which they had sent and called up their customer care - and the say the remaining amount is non-taxable but are ‘service’ fees. So I don’t need to tag it as VAT at all.
Thanks again everybody! Just being a noob with accounting
For anyone else looking to post a VAT only invoice, this is possible using two lines on a single invoice, the second line effectively reversing the net amounts.
