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How do I Reclaim VAT from August 1st
I have just submitted my VAT for Q3, However my accountant has just calculated my VAT to be over £3K
I have queried this and this was my accountants response:
There are a couple of spreadsheets on your memory stick named VAT Reclaim Aug 24 and VAT Reclaim Sep 24. This is actually VAT on sales and yes, we have posted it and included it in to the VAT Return.
The VAT treatment effective from 1 August 2024 refers to the VAT on Amazon fees. We have always reclaimed the VAT on the Amazon fees. We did the same this quarter.
If you have further questions, please do not hesitate to ask me.
This does not seem right to me...!
Can anyone clarify this to me please?
2 replies
Seller_QuM1AZgzfU9x4
The thing that most jumps out is the statement "We have always reclaimed the VAT on the Amazon fees" - though it does depend on whether it is literal or not.
Prior to August there would've been no VAT on the fees as Amazon wouldn't charge them and they go through as reverse charge, so not something to be claimed back. I think technically they would be put through as both input and output VAT cancelling itself out, though an actual accountant may have more accurate terminology.
Post-August due to the change in the way Amazon do their billing they now are something that is paid by the seller and claimed back.
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