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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15940
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Im doing an invoice eg for £1000 and Ive gotta deduct 20

Customer Question

I'm doing an invoice eg for £1000 and I've gotta deduct 20 % for tax and I've also gotta add VAt
Do I do invoice like this
Net £1000 (A )
- tax 20% £800 (b)
Vat at 20 % 200 ( c )
Total A + c
So invoice £1200
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.
Hi.

VAT is charged on the A figure which in your example is £1,000 so the VAT is 20%, £200. Tax is deducted at 20% from the £1,000.

I hope this helps. Let me know if you have any further questions.