I am a sole trader. After using Simplex vat ledgers for years i now have to get to grips with software for MTD…i want to use quickfile to record only the daily takings and the vat return. Before i go too far i am recording takings using bulk invoices to seperate vat and non vat sales. Will this work and be acceptable to HM Revenue?
As a general rule of thumb, bulking your income into one figure (e.g. on a daily or weekly basis) is acceptable providing you can back it up with a break down. This could something like a cash register reading, or if you sell online, a report from your e-commerce site.
I hope that makes sense?
Thanks for the prompt reply…as long as it works i’m happy! This is new territory for me.
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