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Lydia Olliver
September 28, 2020
Question

PRS and purchase VAT

  • September 28, 2020
  • 1 reply
  • 0 views

Hello,

 

Our business is set up on a flat rate scheme at 13%. When inputting our purchases on Quickbooks, do we need to record VAT on payments? 

 

Advice would be much appreciated! 

1 reply

A
Ashleigh1
September 28, 2020

Hello Lydia, 

 

Welcome to the Community page, 

 

on the taxes>edit vat>edit settings and you have turned on the flat rate scheme and put the 13% in there and saved it. 

 

What you do is when you for example create an invoice you would select the 20% code and save then on the taxes page it will convert that 20% to the 13% that it needs to be so your taxes show right. 

 

 

 

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