I am stuck on how to deal with money off coupons a client has been to asda brought his wine/spirits for his club and then gone on-line to do price check and then asda have sent them money off coupons.
Right first question is how would you deal with this would you say this is income ?secondly would it be vat able?
thirdly when cashing off the money off coupons against wines and spirits would you put through a dummy bank account as coupons to cash off this?
last question what happens if you have the coupon which you got from a vat able products but then used this against no vat products would this coupon then be classed as no vat?
Any suggestions would be great help.
There’s a section on the GOV.UK website about money-off coupons here:
I don’t have sufficient accounting knowledge to offer anything further here, but I will leave it open for others to comment.