I plan to make a 2K purchase a the end of the year and it will qualify for claiming the VAT back. How do I process it when on flat rate accounting scheme ?
Previously posted and the answer was to tick option to reclaim vat; however, when I post the purchase invoice its gross of VAT and there is no option to reclaim VAT
J
The way I understand it is when your creating the purchase if you tick the box it will allow you to enter the vat.
That would work, but I don’t normally create a purchase until the invoice is received.
J
Then that’s your issue.
So what we are saying is you can’t claim the VAT back on actual invoices received
J
That’s not what I said at all. You said you don’t input the invoice until it is received I said that’s the problem.
Once you receive the invoice. Input it, then claim the vat back?
The tax point for claiming vat is the time of supply or when the service is performed. If you haven’t received the item yet, there is no vat to claim. If you received the item, then you must have also received the invoice. In which case you can claim the vat.
Either I’m not understanding your query, or you are trying to claim the vat before you have even purchased the item. In which case you can’t.
Hi
I process purchase invoices as follows
In the final action above there is no option to claim the VAT back at the time of entry. It has to be done retrospectively by editing the invoice.
Hi @John_Charnock,
When you’re creating an invoice from the receipts hub you don’t get the full invoice functionality. It may be worth creating the invoice from the supplier first (you should get the option then) and then linking the receipt hub attachment afterwards?
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