Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

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:


Advertisement