Skip to main content
M
Meggel
March 11, 2024
Question

Box 7 what to include

  • March 11, 2024
  • 1 reply
  • 0 views

Hello

I am using quickbooks and submitting a VAT return for the first time without my accountant as I do most of the work anyway.

Can anybody please help;  the only box I am unsure of is Box 7. Within this I have the net value of any purchases where I am claiming back VAT which is fine. But what else do I add into that box?  Should I be listing all purchases whether they have VAT or not? It's only small amounts to be honest like working lunch, photocopying etc. do these get included even though I'm not claiming any VAT?  Does anybody know if I include bank charges within this?

Thanks so much

1 reply

A
Ashleigh1
March 11, 2024

Hello Meggel, thanks for posting on the Quickbooks Community page, here is a list of what all the boxes mean for you for future reference. 

 

Box 1= VAT due on sales 

Box 2 = VAT due in the goods made in Northern Ireland from EU Member States 

Box 3= Total output tax due

Box 4= VAT reclaimed in the period on purchases 

Box 5= Net VAT to pay (or reclaim) or VAT Due 

Box 6= Net Value of Sales Box 7= Net Value Purchases 

Box 8= Total value of dispatches of goods and related costs (excluding VAT) from Northern Ireland to EU Member States 

Box9= Total value of acquisitions of goods and related costs (excluding VAT) made in Northern Ireland from EU Member States

 

So as you can see from the list box 7 is for the net value purchase, so you would enter in all transactions with VAT or no VAT even if not claiming as box 4 is claiming VAT on purchases and box 7 is the rest of the transaction. 

Terms & ConditionsAccessibility statement