Using a journal to account for VAT on margin sales

[Lurch]

The journals won’t be included in VAT return calculations I believe.

This guide suggests just entering a second line on your invoice to account for the VAT on the difference, which will then be picked up on the VAT return.

VAT Second Hand Margin Scheme

Quick File can used to record sales under the VAT margin scheme, simply enter the sales product over 2 line items on the sales invoice, see the example below: [image]