My Royal Mail account is linked to Seller Central. I buy shipping to fulfil orders in Buy Shipping. and get invoiced by RM through my Click&Drop Account.
I've noticed that in the Payment>Transaction View - Amazon credits me the postage and VAT. But this includes all SELF fulfilled shipping labels via Buy Shipping.
So when I do my accounts; I'm declaring labels bought as income, and paying VAT twice?
For 1 Jan - 31 March 2024.
Total Postal Credit (column P) - £975.67
Shipping Credit Tax (column Q) - £196.62
TOTAL £1172.29
When I separate self fulfilled shipping labels:
Total Postal Credit - £371.89
Total Shipping Credit tax - £75.16
For tax return, I have to declare VAT 20% on £1172.29. But when then I pay Royal Mail invoice the VAT also. Thereby paying VAT twice.
Is my reasoning incorrect?