Commentary

V7.231 Flat rate scheme—completing VAT returns

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.231 Flat rate scheme—completing VAT returns

Part V7 Tax planning | Commentary

V7.231 Flat rate scheme—completing VAT returns

The following boxes need particular care when completing VAT returns for businesses that are using the flat rate scheme:

  1.  

    •     Box 1

  2.  

    •     Box 4

  3.  

    •     Box 6

  4.  

    •     Box 7

Each of the nine VAT return boxes should be treated as follows:

Box 1 – The figure to include in Box 1 will often just be the VAT due after applying the appropriate flat rate scheme percentage. However, Box 1 should also include any VAT calculated in the normal way if any capital items have been sold on which input tax has been claimed and

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