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elaine1961
May 3, 2019
Question

Self employed not VAT registered

  • May 3, 2019
  • 2 replies
  • 0 views

I am new to QB so some help would be appreciated. I am self employed and not registered for VAT, so when a transaction comes through e.g. car park fee , this will include the VAT, how do I remove it?

 

 

 

 

 

2 replies

T
TaliaI
May 3, 2019


Hello elaine1961,

 

Welcome to the Community - thank you for your question!

 

If you need to edit a transaction that comes through automatically from your bank, you will need to instead create the transaction manually. You can do this by selecting Add transaction while on your Transactions tab. Once you have done this, you can exclude the transaction from your bank feed to avoid a duplication. You can do this by ticking the transaction and selecting Delete.

 

Thanks,

 

Talia

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Luke filmmaker
September 25, 2021

Hang on a minute - I'm sure no accountant, but I'm also not VAT registered (self employed) but I thought that meant I still do pay tax on my expenses (eg. buying a laptop, etc) - it's just my invoices I'm not charging VAT on to my customers.

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Giovann_G
September 26, 2021

Thanks for joining this thread, Luke filmmaker.

 

If you're using QuickBooks Self-Employed, the VAT feature isn't available. If you wish to avoid paying taxes on your purchase, you can manually make the transaction, as suggested by my colleague TaliaI above. More detailed instruction can be found in this article: Manually add transactions in QuickBooks Self-Employed.

 

You've also posted concerns about removing VAT from invoices. My peer responded to your concern with the steps on how to eliminate VAT from your customers' invoices. Please see this link to view the details: https://quickbooks.intuit.com/learn-support/en-uk/vat/how-do-i-stop-my-invoices-being-titled-vat-invoice-i-m-not-vat/01/947881#M6490.

 

Don't hesitate to post a reply if you need additional support. We're always here to back you up.

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emmam6
March 21, 2023

Hello Community Users, We just wanted to pop in and add some clarification to this thread. Quickbooks Self Employed runs on a cash basis. It does not have the option to claim VAT on purchases or add it to invoices.

For VAT registered businesses we do have Simple Start Quickbooks Online.

If you are wanting to record business purchases, that you are claiming for, in Quickbooks Self Employed  they would be allowable expenses(if you can't claim for them they would go under allowable) You can record the  parking fee as an allowable expense, you would just need to use the appropriate category so that it would move to the allowable expense box for travel costs.

If you want to record equipment such as a laptop then you can look at whether you can claim using capital allowance, more info on that can be found at HMRC website

However we'd recommend speaking to an accountant or HMRC about whether you can claim capital allowance or whether you need to claim under allowable expenses. 

 

 

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