I am on flat rate and want to reclaim a capital purchase over 2K , I have ticked reclaim vat on this purchase but it does not show up on my VAT return.
Are you on cash accounting? Was the payment to that purchase made in the period you are filing for?
EDIT:
We just had a look and the VAT column is there just marked as zero.
I am on flat rate, yes payment made in December and VAT return is for OCT- through DEC
J
Ps , when entering an invoice that will be reclaimed do I put the net and Vat amounts ?
Normally I would just post all purchases as Gross
J
I would look at the VAT invoice and enter the figures as per the receipt.
I did that and it looks Ok, can you confirm that it is only necessary to split the invoice if the intention is to reclaim the VAT? Otherwise entering Gross is normal for flat rate scheme ?
For FRV VAT reclaims enter the net and VAT amounts in their respective columns.
So if you paid £120, then it’s £100 net, £20 VAT.
The VAT amount would require entering as per invoice to ensure the correct VAT is reclaimed.
But on a flat rate scheme there is no vat to reclaim ?
I don’t have many purchases but those that I do have I have always entered them as gross
J
For example , I just scanned my mobile O2 bill for December and I created a purchase form my receipt hub, entered the gross amount. Looking at the PO in the supplier account the invoice is posted gross
“But on a flat rate scheme there is no vat to reclaim ?”
As per your original post you are trying to reclaim a capital allowance, this is the only invoice you require the VAT breakdown to ensure it is correct as per supplier invoice. The system cannot take for granted that the total invoice is exactly 20%, the full invoice may have non-vatable or exempt items included i.e. post/delivery.
1 Like
I think I have sorted it now , I amended the invoice that I wanted to reclaim VAT.