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VAT return of trading details question

  • 27-07-2010 10:23AM
    #1
    HeinekenTicket
    Registered Users, Registered Users 2 Posts: 146 ✭✭


    Hello,
    could someone please advise how the following are dealt with on a VAT RTD:

    (i) a business provides a service that is VAT exempt. Expenses are incurred which include a VAT element but, because the business is VAT exempt, the VAT cannot be claimed. Am I correct in saying that these expenses should be included in box E6 of the VAT RTD? They are overhead expenses.

    (ii) same VAT exempt business service. Expenses are charged by a non-registered supplier (therefore no VAT element). Do these expenses need to be included in the VAT RTD at all? Someone told me that I shoud record them in the RTD box that would apply were the supplier VAT-registered. Is this correct? This seems odd because, in this circumstance, that VAT RTD would not correspond to the accumulated VAT 3 returns made throughout the year.

    Thank you for assistance.
    Tagged:


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