I am getting myself in a bit of a mix up and need some clarification.
The HMRC Online filing for VAT shows a descriptive text for Box 6 as "Total value of sales and all other outputs excluding any VAT..."
However this hmrc link suggests otherwise that Box 6 should include VAT
Which is correct ?
figures for illustration :-
Assume industry flat rate percentage of 14.5%
Assume Sales for Return period is £12000 i.e. (£10000 + £2000 of VAT)
I would expect Box 1 figure to be £1740 ( i.e. 14.5%*12000)
I would expect Box 6 figure to be £10000 instead of £12000
which value is right is box6 ?
cheers
css_jay99
The HMRC Online filing for VAT shows a descriptive text for Box 6 as "Total value of sales and all other outputs excluding any VAT..."
However this hmrc link suggests otherwise that Box 6 should include VAT
Which is correct ?
figures for illustration :-
Assume industry flat rate percentage of 14.5%
Assume Sales for Return period is £12000 i.e. (£10000 + £2000 of VAT)
I would expect Box 1 figure to be £1740 ( i.e. 14.5%*12000)
I would expect Box 6 figure to be £10000 instead of £12000
which value is right is box6 ?
cheers
css_jay99
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