vat return

[Andy Collins]

Ok, just numpty questions, not something I've looked into.

[gensetsteve]

The 15% in and 5 % out on firewood works really well if you buy in cord wood. If I were you steve check to make sure you are on cash accounting vat as you claim when you spend out but dont pay until you have been paid good for a turn over of about 440k. Any machinery you buy you get the 15% back that quarter, the 50% 100% thing applies after this on the tax side. Hope this makes sense, its a mixed blessing been doing since 1992 one good thing makes sure you keep your books up to date.

[samarb]

Have to say being VAT reg is really worth while and they are pretty quick to pay when they owe you money, though ask me in a months time as they are coming around to do a random check (last three years books plus wants to see all equipment and stock).

[Steve Bullman]

now going into my 4th quarter being vat registered, best thing i ever did for sure. i run everything on quickbooks so my vat returns take about 30 seconds...definetly wouldnt want to be doing it manually!!!

 

and no genset, im not on cash account...i have everything set accural which works best for me at the moment.

[samarb]

now going into my 4th quarter being vat registered, best thing i ever did for sure. i run everything on quickbooks so my vat returns take about 30 seconds...definetly wouldnt want to be doing it manually!!!

 

and no genset, im not on cash account...i have everything set accural which works best for me at the moment.

 

Have to say until recently have been doing it manually but (thanks to arbtalk) have gone with quick books so will speed it up a little and is so much easier to input.

[cousin jack]

How can I get hold of quickbooks?

[samarb]

Google it, I think there doing a free version at the moment.

[Steve Bullman]

Small Business Accounting Software | QuickBooks® 2008 from Intuit UK

[cousin jack]

cheers boys, CJ

[Rob D]

I file my VAT return online each month. Really easy and any vat due back to me goes into my account 2 weeks after I send the return in...