VAT
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HMRC usually take our VAT payment by the 10th day of the month however QTR1 payment has still not been taken although our return was accepted by HMRC. Do we need to take action?
I am using cash accounting so the VAT has to show up in the next quarter when payment is made.
I am preparing my first quarterly VAT return and wish to reclaim the VAT from my employee expenses mileage payments. For example, let's say I have done 1000 miles and current HMRC rates state VAT can be reclaimed from the 13p/mile fuel element, i.e. 0.13 x 1000 x 0.2 = £26.I can't find an easy way to enter this as an expense or cost, the only thing I can see is to manually adjust the return by the amount calculated. If the latter is acceptable to HMRC then fine, no worries but if there's a correct way that someone could point out that would be appreciated.
Hello,This is half a quickbooks question and half a VAT question. I use two vehicles for my business and complete between 500 and 1000 miles per month - approx £200 of fuel. Up until now I have just ignored VAT for vehicles as it was too complicated (and this may still be the best approach). Now that I have registered on quickbooks I wondered if there is a tool that makes it easier? My car is 235g/km CO2. So the questions are:How do you record mileage in quickbooks to include in VAT return?How do I deal with the fuel purchases in my bank account not wanting to add up with the quickbooks balance?Is it even worth the hassle of claiming the VAT for the amounts I am using? If you havn't guessed already I do not have an accountant. Thank you for any advice.
I have tried different browsers but it doesn't help
