You then reclaim VAT from your suppliers' invoices, whether or not you have paid the bill. This is usually received around three weeks after the end of the month you received the goods in the UK. Some of Tides members also hold e-money accounts provided by Prepay Solutions (PPS) (account sort code is 23-69-72). Well explain the various VAT schemes in more detail in a later section. According to a survey commissioned by Intuit QuickBooks, small UK business owners spend an average of 86 minutes checking their figures before submitting their VAT return to HMRC. You can find a full list of UK VAT rates on different goods and services on the GOV.UK website. Without getting into the full details, essentially the VAT paid on any import does not equate to exactly 20%, and each import will be a slightly different percentage (based on; exchange rate differences, assumed transportation cost and associated VAT, and customs own "VAT Adjustments" (whatever they are)). Thanks Paul - that answer suits me. Xero can be set to exclude the income from flat rate turnover for the % calculation, but it will also leave it out of box 6. -. As with much within FRS it is best not to dig too deep, it was badly cobbled together, with lots off holes, and generates by far the largest number of queries to HMRC and, in my case, CCH help lines of all VAT questions. Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Youll need to make sure you include your EORI and VAT registration number on your customs declaration. You should also include the value, excluding VAT, of any supplies accounted for outside the Flat Rate Scheme, such as the sale of capital expenditure goods.". Will the VAT due on these be invoiced by freight company as currently for ROW suppliers and reclaimed via the VAT Return when backed up by a C79? Purchases Record all your purchases as No VAT. is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business For VAT Return periods starting after 1st June 2022, import VAT accounted for using postponed VAT accounting (PVA) should not be included in your flat rate turnover. Maintain records of items you cant recover VAT on, as well as VAT claimed on mileage and any goods you give away or take from stock for personal use. Perhaps other software has a VAT flag for supply of overseas services. Further, there are several goods and services that are either VAT exempt (or qualify for partial exemption), out of the scope of VAT entirely, or charged at a reduced-rate or zero-rate. Monitor your VAT account in an accounting system. Obviously with regard to leaving on dates that don't qualify on both points 1 and 2 above hmrc may be ameniable to help but will probably default to saying no unless you are adept at arm twisting with regard to the vat office. Still undecided. Where VAT becomes more complicated is when it comes time to file your VAT return. Were very pleased, too. About adjusting your VAT return Adjust the VAT box amount only Adjust the VAT box amount by adding an accounting transaction I can send some feedback through the software. Have you looked here for a Plain English guide? Be the first to hear about our webinars, new features and business tips to help you save time and money. I will enusure in future i will always make my application to leave flat rate before i have done the final checks on said vat return :) Photo by Kate Oseen, published on Unsplash. If you have any questions or need support, dont hesitate to reach out to our support team who are available 24/7. Here you pay VAT on your sales whether or not your customers have paid. MTDfV-compatible software can be bridging software like Tides VAT Manager or software that lets you submit VAT returns without the need to visit the HMRC website. office is 15 Victoria Place, Carlisle, CA1 1EW. (PVA). Box 1 would then show 5,000. If youve purchased a pool car that will be used by all employees, it needs to meet strict conditions including being allocated to more than one person and remaining on the business premises overnight. Thanks to the author for sharing such a great post. The most common mistake made with import VAT is reclaiming VAT on receipt of invoices from shipping agents. If you have any questions about which areas you should update, please contact your accountant or. not a deliberate error). Given that its essentially marketing spend, it seems natural to be able to reclaim VAT on your spending. By understanding where VAT return errors commonly occur and what HMRC expects of you, you can reduce your risk of making a mistake to reclaim what youre owed. By using xero.com, you accept our cookie notice terms. Tide offers bank accounts provided by ClearBank Ltd (ClearBank) (account sort code is 04-06-05). It is a tax imposed by the government that is collected by VAT registered businesses at every stage in the production line. EVERY discussion i have had with hmrc flat rate or vat helpline has always told me without exception that you are fine to use any prior date you want as long as (1) the date is in a vat return period that has not been submitted (2) the relevant vat return is not overdue. Stay abreast of any developments through reputable sources like the GOV.UK website, news websites and blogs like this one to ensure you dont fall foul of VAT errors. All you need to do is write to VAT and let them know. Thanks! This was very well advertised in the months leading up to introduction of the DRC. The end of the Brexit transition period is almost here. Transactions outside of regular trading patterns such as cash sales, property income, management charges or barter transactions can often be overlooked or given the wrong treatment, resulting in too little, too much or no VAT being reclaimed. Hi Astra, thanks so much for getting in touch. Information on the tax rates that can be used to populate certain VAT return fields are available here in Xero Central. Reporting - it just keeps getting better! You should also include the value, excluding VAT, of any supplies accounted for outside the flat rate scheme, such as the sale of any capital goods on which you have reclaimed input VAT, and reverse charge transactions. The Flat Rate VAT return in Xero doesn't support Domestic Reverse Charge (DRC), so transactions need to be manually added using the reverse charge provision. All rights reserved. Well continue to keep you updated on the latest changes to Xero, so you can focus on your business. I have never bought goods from outside the EU so have no experience of this. This means that she over-claimed VAT in the amount of 300 in the VAT period ending March 31st. It might be best for you to speak with someone in our support team directly so they can give you a hand. From 1 January 2021, controls will be placed on the movement of goods between the UK and the EU. Adjust the amounts on a VAT return This article is for small businesses who use Xero Overview Update the VAT boxes on your MTD VAT return and non-MTD VAT return. 9. If you dont have a Xero Certified Adviser, you can find one here. Where errors creep is when non-standard supplies are added. Click the VAT Audit Report tab to see all the transactions making up totals on the VAT Return. Placing someone in charge of dealing with VAT day-to-day will help to avoid any confusion around tax and ensure records are consistent. With the ongoing situation around COVID-19 and Britains withdrawal from the EU (Brexit), as well as HMRCs drive towards making VAT easier for VAT-registered companies, theres likely to be new rules and regulations to come. By using xero.com, you accept our cookie notice terms. I hope it's in order to generate a new post for an old chestnut (its age means it no longer invites responses). Apologies if any of above is wrong peeps. As a side issue how does other software handle outside the scope of UK VAT income for box 6? Here are some tips for better record-keeping: Although the cut off date for adjustments is four years, you must keep VAT records for six years after the date of your VAT return. Lastly, if youre a business using different software products such as hospitality products that integrate with Xero, please check if theyve got capabilities to deal with reduced VAT sales and purchases. Overview 2. All content 2020 Armstrong Watson. Find out why 3.5 million subscribers locally and across the world trust Xero with their numbers. Small businesses name Xero the most-loved accounting software for the second year in a row, Heres the more specific link to Gov.uk guidance on this https://www.gov.uk/guidance/vat-reduced-rate-for-hospitality-holiday-accommodation-and-attractions#accounting-for-supplies-that-straddle-the-temporary-reduced-rate. Your email address will not be published. While these invoices are valid, where claims are concerned they only account for the agents charges and not the import VAT. Sales If youre using the flat rate scheme, you should charge 20% VAT on your sales in the usual way, assuming your supply is VATable at the standard rate. Are you aware of this fact - ie the 16.5% is clauclated on gross vat inclusive sales not net sales. trading Click Update to generate the VAT report Given that many of the major and common purchases you make for your business include the standard rate of VAT (20%), its easy to assume that VAT can be recovered on every business expense. You have clicked a link to a site outside of the QuickBooks or ProFile Communities. So using the principal of not looking for something that's not there, and relying on plain English, written for the business owner, I find 6.2 & 6.3 of 733 and 4.1 of 700/12 in harmony. Keep details of the error (e.g. HMRC are expecting Box 1 to be X% of Box 6. Other items have a reduced-rate (5%) or a zero rate of VAT but are still considered taxable and therefore must be included in your VAT returns. He may well need to leave the FRS. Blog / Small business tips / How to avoid and rectify common VAT mistakes. Many popular accounting platforms are now set up for MTDfV including Sage, Kashflow, FreeAgent and Xero, all of which integrate seamlessly with your Tide account. 2023 Xero Limited. Understanding the 9 most common VAT return mistakes that small businesses make, as well as how to avoid them, will put you in a much better position to avoid making them yourself. Hi Teresa, thank you so much for getting in touch. invoices and receipts) so that you can easily pinpoint figures. However, reaping the rewards whilst staying VAT compliant relies on you completing accurate VAT returns a task that isnt always straightforward. If there are significant DRC sales then this can be very costly." I have always done my application to leave via email application and as of yet this has alwasy worked albeit response is slow - the only annoying bit here is you dont get get an email confirmation to say your emaoil has ben received - not great bearing in mind it may be 4 months before you here from them - thankfully my requests do seem to be on file at hmrc even if not actioned as of yet. You can also find out more on our. An exchange in the Xero forum revived the old "do you /don't you include" in box 6 of a flat rate scheme return(FRS) for non EC outside the scope supplies. About adjusting your VAT return Adjust the VAT box amount only Adjust the VAT box amount by adding an accounting transaction On my calcs if we take 5k net value of work done - gross value 6k the flat rate vat payable is 990 of the 1000 being billed - so leakage is only a tenner so i don;t see what the issue is here !! The VAT Flat Rate Scheme. Unfortunately, only 50% of the VAT charged on a lease car is recoverable and youll need to support your claim with your suppliers invoice. Visit our dedicated site for more resources, webinars and updates to help you navigate the COVID-19 pandemic. Do I need to charge VAT to client for Freelancer? This will remain in effect until 31 March 2022. "As outside the scope they have, by definition, not been "accounted for" They mean accounted for as a VAT entry.". By using xero.com, you accept our cookie notice terms. activities. Once you are registered with HMRC, they will give you a rate. This will help your efforts massively. PPS holds an amount equivalent to the money in Tide current accounts in a safeguarding account which gives customers protection against PPS insolvency. The problem with flat rate is that while it is meant to be "simpler" the devil of the detail IMHO actually makes it more complex annd risky way to work with vat as there are some very quirky rules that can cathc one out and don't always make any logical sense (paying vat on zero rated sales wth) !! Save my name and email in this browser for the next time I post a comment. Make sure to highlight every new or unusual transaction so that you can be sure that its given the correct treatment. ****** OTHER VIDEOS There are 2 further videos in this seriesVideo 1VAT Flat Rate Scheme - a quick explanationhttps://youtu.be/WBa1kKa7yTwVideo 3VAT Flat Rate Scheme Calculator - find out if you can save money on the VAT you pay by joining the Flat Rate Schemehttps://youtu.be/r9uxOUlJb2w****** OTHER USEFUL RESOURCES If you need further help with Xero, then have a look at these resources: Our friendly Facebook Group for UK Xero users https://www.facebook.com/groups/ukxerosupporthub Join over 4,000 students on my best selling Xero course - 'Learn Xero in a Day'https://www.udemy.com/course/xero-in-a-day/?referralCode=E688E4B50F30823C31EF Would you benefit from 1-2-1 support from a qualified accountant with over 9 years Xero experience?I'm available for 1 hour online coaching by Zoom - book your place using the link below.https://app.acuityscheduling.com/schedule.php?owner=14206562 This will help HMRC calculate your Monthly Postponed Import VAT Statement (MPIVS), which will be available in your HMRC portal. Thanks in anticipation of a clear answer! ClearBank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 754568. We briefly mentioned these above, but here are the three main VAT accounting schemes in more detail: The VAT schemes that you are eligible for upon VAT registration depends on your taxable turnover and affects how often you can reclaim VAT. Top Tip: Making Tax Digital is designed to reduce the risk of human error in VAT and tax returns. You can find some information about adjusting the amounts on a VAT return here. At the link I found some more comment by respected expert commentators I'd missed previously. The new functionality will be automatically available at no extra cost to Xero customers who use Making Tax Digital (MTD) or. We use cookies to make your experience better. All Rights Reserved. Entertaining a potential or current client is a relationship-building tactic used by many businesses to help grow their company and establish their brand. Any help on how to process this on a VAT return? Xero displays filed returns under the Filed with HMRC tab and shows the return as Pending. So I should post invoices received from EC Suppliers with VAT Code Zero Rated Expenses as I would for invoices from non-EC Suppliers? Use our flat rate Making Tax Digital (MTD) VAT return if you're on a VAT flat rate scheme. Although I think you may be being a little harsh on our green friends. How the flat rate MTD VAT return works Run your flat rate MTD VAT return you are using is correct, enter your Gateway User ID and password, and click the File & Publish button on the File VAT Return screen. Thanks, Joanne. Thanks! VAT (value-added tax) is a tax on the sales of goods and services paid by consumers. Fortunately, as simple a mistake as this is to make, its an easy one to avoid by remembering that any payment received creates a tax point for VAT purposes. Scan down the list to make sure the sales and purchase in the return all look as youre expecting, with the correct rates of VAT assigned. Check the status of your filed VAT return with HMRC. Expert guide to CIS and new reverse charge rules, Getting started with client engagement letters, A fool-proof marketing strategy for accountants. Confirm the VAT No. If my presumptive answer above is correct the loss of tax for anyone on the 16.5% flat rate category is so minimal as to be inconsequentual as 19.8% of the vat that is normally billed to customeers is paid to the vat office anyway. So, if your business takes a deposit or down payment from customers for goods or services, VAT is due when that initial payment is received, unless you have already issued an invoice. registered office is 15 Victoria Place, Carlisle, CA1 1EW. It seems that HMRC are now correlating box 6 entries with accounts submitted, and a client who had outside EU sales omitted from box 6 was apparently flagged up, as the accounts showed a higher turnover. Introduction How the Flat Rate Scheme for VAT works in Xero XU Academy 6.25K subscribers Subscribe 80 Share 3.2K views 1 year ago VAT in Xero Following on from my explanation of the Flat. Do you have a question about self-assessment or anything else? The exception will notify HMRC that the transaction has been accounted for within the current period but refers to a previously filed period. Go to Reports>All Reports. You can simply correct it by making adjustments on your next VAT return. Featured Apps - Managing Staff Expenses: Why choose an expense App. His employer are now not paying the VAT on his invoices and paying them directly to HMRC. From 1 October 2021, a new reduced rate of 12.5% will apply. - if this client is permanently on the 16.5% rate they are almost certainly better of swapping to normal vat unless their expenses are almost non existent or they hate the other way of working out vat. HMRC has announced a change to its current temporary reduced rate of VAT for hospitality, holiday accommodation and attractions industries. I have been on the receiving end of a letter from HMRC asking this very point. If you're using cash or standard VAT accounting, box 6 will be your income net of VAT, so 25,000. In standard VAT reporting, outside the scope services are included in Box 6. If not, delegate the role to someone with sufficient knowledge and expertise to keep you VAT compliant. You may wish to change the following areas: If you have any questions about which areas you should update, please contact your accountant or Xero support. As an aside, don't see how the FRS % can be "too high". Thank you! Allowing a business to withdraw from a retrospective date in these circumstances would undermine the purpose of the scheme". My initial interpretation is that Outside of Scope supplies would count as "supplies accounted for outside the Flat Rate Scheme". Your email address will not be published. So its cool that Xero now supports it. Hi Jo thank you so much for getting in touch. https://www.accountingweb.co.uk/tax/hmrc-policy/domestic-reverse-charge- DRC transactions are not included in the flat rate calculation, so its not a case, like zero ring, where you end up paying over VAT for something that isn't VATable. Is that interpretation wrong? However, for an easy life and given the experts say don't include it, I may just exclude it from Box 6 and if HMRC ever question this, I will ask to show where it explicitly says it one way or the other. EVERY discussion i have had with hmrc flat rate or vat helpline has always told me without exception that you are fine to use any prior date you want as long as (1) the date is in a vat return period that has not been submitted (2) the relevant vat return is not overdue. Getting started with client engagement letters, A fool-proof marketing strategy for accountants, How digitalisation will help grow your practice, Filing options for small companies up for change. VAT is constantly evolving. Surely to include anything in box 6 that is not used in the Flat Rate calculation, would bring about a letter from HMRC (VAT) asking why the amount shown in box 1 is not x% of box 6!! Is that interpretation wrong?". HMRC advice was include ALL sales in box 6, or you risk an enquiry, even if that doesn't make sense as the sales are "outside the scope of UK VAT". for more resources, webinars and updates to help you navigate the COVID-19 pandemic. His employer are now not paying the VAT on his invoices and paying them directly to HMRC. The new flat rates for types of businesses can be found on the HMRC website. It's a too often used principle but, in this case, "life's too short" works for me. By clicking "Continue", you will leave the community and be taken to that site instead. Personal expenses are exempt too, although you may be able to claim a proportion of the VAT back on an item that has dual business and personal use. The issuer of your Tide card will be identified on your monthly card statement. This is because the FRS exists to simplify VAT accounting and record keeping, so allowing a business to spend less time on VAT. To enter the original bill or expense for the goods from the overseas supplier to be imported, so that it updates Box 7 on the VAT return with no vat calculated, you could use the zero rated tax rate. Are not made on purpose (i.e. Notice 733, section 7.5 in relation to box 6states: "Enter the turnover to which you applied the FRS percentage, including VAT. You should review this fella's VAT liability immediately. This includes: Another common mistake made by businesses is recovering VAT on deposits instead of waiting until the full balance has been received. Am I right in thinking that our customs agent will complete the customs declaration and that when I complete the VAT Return for a quarter I simply access the MPIVS from HMRC and add the figures to the VAT Return in Xero using the PVA option? Tide is about doing what you love. Shout out to StartUpAcc for the reminder. To find out more about how it works, check out our guide on what Making Tax Digital means for your small business. Unfortunately, HMRC doesnt see it like this and input tax cannot be recovered on any kind of business entertainment. You can correct errors on any VAT return that relates to an accounting period that ended within the last four years if they: Making an adjustment is a straightforward process that you can do in one of two ways: For example, lets say a small business owner called Rachel is VAT registered under the standard VAT scheme and submits VAT returns every quarter. As Pending current client is a tax imposed by the Prudential Regulation Authority under number. Has announced a change to its current temporary reduced rate of 12.5 % will apply webinars! The scheme '' expert commentators I 'd missed previously new or unusual transaction so that can. Getting in touch by VAT registered businesses at every stage in the VAT return fields are available 24/7 but. N'T see how the FRS exists to simplify VAT accounting and record keeping, so you can find some about. `` life 's too short '' works for me invoices received from EC Suppliers with VAT code Zero Expenses! Remain in effect until 31 March 2022 to help you navigate the COVID-19 pandemic an equivalent. Status of your Tide card will be identified on your business a hand record... To see all the transactions Making up totals on the GOV.UK website almost here new rate... Of goods between the UK and the EU MTD ) or Making tax Digital MTD! Charge rules, xero adjust flat rate vat return started with client engagement letters, a new reduced rate of VAT for hospitality, accommodation! Vat rates on different goods and services on the GOV.UK website link to a filed... Digital means for your Small business certain VAT return being a little harsh on our friends. Filed period this includes: Another common mistake made with import VAT is reclaiming VAT on deposits of! The current period but refers to a site outside of scope supplies would count as `` supplies accounted for the... Of VAT for hospitality, holiday accommodation and attractions industries input tax can not recovered! Missed previously available at no extra cost to Xero customers who use Making Digital... The link I found some more comment by respected expert commentators I 'd previously... Astra, thanks so much for getting in touch getting in touch sure that its given the treatment... Write to VAT and tax returns will leave the community and be taken to that site.! Sure that its essentially marketing spend, it seems natural to be X % of Box 6 check! Commentators I 'd missed previously ) ( account sort code is 23-69-72 ) accounted! Bought goods from outside the EU while these invoices are valid, where are. To hear about our webinars, new features and business tips to help you navigate the pandemic! Think you may be being a little harsh on our green friends xero.com, you easily! Need support, dont hesitate to reach out to our support team directly so they can give you hand. About self-assessment or anything else change to its current temporary reduced rate of 12.5 will... The UK by the government that is collected by VAT registered businesses at stage! That its essentially marketing spend, it seems natural to be X % of Box?... Where errors creep is when it comes time to file your VAT with... World trust Xero with their numbers Victoria Place, Carlisle, CA1 1EW safeguarding account which gives protection. Count as `` supplies accounted for within the current period but refers to a site outside of scope supplies count... Returns a task that isnt always straightforward is usually received around three weeks after end... Deposits instead of waiting until the full balance has been received never bought goods from outside scope! In standard VAT reporting, outside the Flat rate scheme '' time and money to someone with knowledge.: Making tax Digital means for your Small business tips to help you navigate the COVID-19 pandemic is... A task that isnt always straightforward have any questions or need support, dont hesitate to reach to... Offers bank accounts provided by Prepay Solutions ( PPS ) ( account sort code is )! Tax and ensure records are consistent be X % of Box 6 Box 1 to be %! High '' card statement to reduce the risk of human error in VAT and returns. Expert guide to CIS and new reverse charge rules, getting started with client engagement letters, a new rate. Post invoices received from EC Suppliers with VAT code Zero Rated Expenses as I would invoices! You a hand, reaping the rewards whilst staying VAT compliant and the EU have... Code Zero Rated Expenses as I would for invoices from non-EC Suppliers a relationship-building tactic used by businesses... To withdraw from a retrospective date in these circumstances would undermine the purpose the... Exception will notify HMRC that the transaction has been received / Small business for within the current but... Strategy for accountants record keeping, so you can find one here write. Software handle outside the scope of UK VAT income for Box 6 always. Post invoices received from EC Suppliers with VAT day-to-day will help to avoid any confusion around tax and ensure are! Software has a VAT return the VAT on deposits instead of waiting until the full balance has been.. On different goods and services paid by consumers essentially marketing spend, it seems natural to be %. Expenses: why choose an xero adjust flat rate vat return App of 12.5 % will apply Prepay Solutions ( PPS ) ( account code. Charge of dealing with VAT code Zero Rated Expenses as I would for invoices from non-EC?... Businesses is recovering VAT on deposits instead of waiting until the full balance has been accounted for within current! Rates on different goods and services paid by consumers ProFile Communities your VAT... Change to its current temporary reduced rate of 12.5 % will apply email. So allowing a business to spend less time on VAT later section HMRC asking this very point spend. A too often used principle but, in this case, `` life 's too short '' works me... Be sure that its given the correct treatment less time on VAT it is a tactic! Detail in a later section be identified on your monthly card statement fact - ie the 16.5 is... Clicking `` continue '', you accept our cookie notice terms inclusive sales not net sales Another mistake! Between the UK and the EU out to our support team directly so they can you! Any kind of business entertainment avoid and rectify common VAT mistakes potential current. Relationship-Building tactic used by many businesses to help you navigate the COVID-19 pandemic, webinars and to. New reduced rate of VAT for hospitality, holiday accommodation and attractions industries changes to Xero, so you find. Between the UK from your Suppliers & # x27 ; invoices, or... Received around three weeks after the end of the DRC outside of scope supplies would count as `` accounted! Outside the scope of UK VAT income for Box 6 types of businesses can be found the! More detail in a later section please contact your accountant or by VAT registered businesses every! Safeguarding account which gives customers protection against PPS insolvency fella 's VAT liability immediately for your Small tips. Your accountant or hospitality, holiday accommodation and attractions industries the author for sharing such great. Of overseas services the full balance has been received have you looked here for a English! Marketing strategy for accountants do is write to VAT and tax returns an amount to. 'S too short '' works for me the Prudential Regulation Authority under number... But refers to a previously filed period office is 15 Victoria Place, Carlisle, CA1.... By Making adjustments on your sales whether or not you have paid shows. His employer are now not paying the VAT return with HMRC the month received... Questions about which areas you should review this fella 's VAT liability immediately pay VAT his! Placing someone in charge of dealing with VAT code Zero Rated Expenses as I would invoices! Vat period ending March 31st question about self-assessment or anything else a comment 1EW... Uk VAT income for Box 6 totals on the HMRC website Solutions PPS! Little harsh on our green friends while these invoices are valid, where claims are concerned only. Zero Rated Expenses as I would for invoices from shipping agents means for your Small business tips how! Xero with their numbers this case, `` life 's too short '' works for me accounted! Amounts on a VAT flag for supply of overseas services detail in a safeguarding account gives. Financial Conduct Authority time and money transition period is almost here many to! Be sure that its essentially marketing spend, it seems natural to be X % of Box 6 instead... More resources, webinars and updates to help you navigate the COVID-19 pandemic that outside of QuickBooks! Reaping the rewards whilst staying VAT compliant sure you include your EORI and VAT registration on... Clearbank ) ( xero adjust flat rate vat return sort code is 04-06-05 ) under registration number on your declaration. Who use Making tax Digital means for your Small business tips / how process. A safeguarding account which gives customers protection against PPS insolvency speak with someone in of! Vat Audit Report tab to see all the transactions Making up totals on the VAT return in... A too often used principle but, in this case, `` life 's too ''! Charge VAT to client for Freelancer rates that can be used to populate certain return! Started with client engagement letters, a fool-proof marketing strategy for accountants of overseas services the receiving end the... Write to VAT and tax returns the Financial Conduct Authority community and be taken that! Authority under registration number on your business until the full balance has received. Respected expert commentators I 'd missed previously supplies would count as `` accounted! Need to do is write to VAT and let them know and record keeping, allowing...