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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have a limited company and currently I am using flat rate.

Resolved Question:

Hi,
I have a limited company and currently I am using flat rate for VAT.
Now I have to prepare the company`s account and want how to calculate the expenses.
Can I calculate the gross including VAT, considering that I did not claimed any VAT for it ?
Thank you
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your question.

Your expenses would be reported gross inclusive of VAT.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Expert:  taxadvisor.uk replied 1 year ago.

Hi there, just checking if you have any further question on how to report expenses gross or net.

Many thanks

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 1 year ago.

I thank you for accepting my answer.

Best wishes