Can I Claim VAT on Postal Credits?
Can please anyone shred light on whether I can claim the VAT on Postal Credit?
10 replies
Seller_d8YGbIjNqwFxn
Postal credits are money given to you by the buyer and form part of your income.
You can't claim the VAT on postal credits and assuming you are VAT registered should treat them as income and pay the VAT on the postal credit to HMRC
Seller_d8YGbIjNqwFxn
Also you have asked this question twice before and answers don't change if you keep on asking the same question
Seller_ae51e0CJoHqCX
You don't claim VAT on credits, you should pay VAT on credits. As others have said a credit should be treated as an income.
Sometimes I think we over complicate things and worry too much about the jargon.
If you are VAT registered and assuming not on the VAT flat rate scheme then all of your vatable sold goods which in most cases is the income along with any postage charges paidto you (in the UK), services etc will be subject to VAT. There maybe some exceptions depending on what you sell like milk or cream cakes but most general purpose items are vataable at 20 percent.
Any debits ie postal chargeds may or may not have a VAT element to them so you go into your transaction report at the end of you vat cycle and pull off the invoices and you can find which parts you can claim back. Some services are aero rated, some parts are exempt so no VAT has been paid and no VAT can be claimed back. You can't use your postal credits as a figure to generate any sort of useful infromation that will allow you to claim back any sort of VAT or add to a return.
For rreclaiming VAT that you have paid on postage through Amazon go to your tax document library and look out for Grattan Evri) and Royal Mail. These have invoices with a VAT element and ypu can reclaim on these in the same way as you treat any invoice.
In a nut shell I will happily shed light on it. No you can't but if you are just talking about reclaiming VAT on postage paid then yes you can
Seller_K8edOfPu9HEmN
I mean this is basic stuff right? And FWIW, if your putting yourself forward in business, and trying to make a living you really should know this sort of basic stuff, shouldn't you?
Seller_D8wiHtHCFzdBW
I’ll send you a link shortly with some information relating to your question .
Can I Claim VAT on Postal Credits?
Can please anyone shred light on whether I can claim the VAT on Postal Credit?
Can I Claim VAT on Postal Credits?
Can please anyone shred light on whether I can claim the VAT on Postal Credit?
10 replies
10 replies
Seller_d8YGbIjNqwFxn
Postal credits are money given to you by the buyer and form part of your income.
You can't claim the VAT on postal credits and assuming you are VAT registered should treat them as income and pay the VAT on the postal credit to HMRC
Seller_d8YGbIjNqwFxn
Also you have asked this question twice before and answers don't change if you keep on asking the same question
Seller_ae51e0CJoHqCX
You don't claim VAT on credits, you should pay VAT on credits. As others have said a credit should be treated as an income.
Sometimes I think we over complicate things and worry too much about the jargon.
If you are VAT registered and assuming not on the VAT flat rate scheme then all of your vatable sold goods which in most cases is the income along with any postage charges paidto you (in the UK), services etc will be subject to VAT. There maybe some exceptions depending on what you sell like milk or cream cakes but most general purpose items are vataable at 20 percent.
Any debits ie postal chargeds may or may not have a VAT element to them so you go into your transaction report at the end of you vat cycle and pull off the invoices and you can find which parts you can claim back. Some services are aero rated, some parts are exempt so no VAT has been paid and no VAT can be claimed back. You can't use your postal credits as a figure to generate any sort of useful infromation that will allow you to claim back any sort of VAT or add to a return.
For rreclaiming VAT that you have paid on postage through Amazon go to your tax document library and look out for Grattan Evri) and Royal Mail. These have invoices with a VAT element and ypu can reclaim on these in the same way as you treat any invoice.
In a nut shell I will happily shed light on it. No you can't but if you are just talking about reclaiming VAT on postage paid then yes you can
Seller_K8edOfPu9HEmN
I mean this is basic stuff right? And FWIW, if your putting yourself forward in business, and trying to make a living you really should know this sort of basic stuff, shouldn't you?
Seller_D8wiHtHCFzdBW
I’ll send you a link shortly with some information relating to your question .
Seller_d8YGbIjNqwFxn
Postal credits are money given to you by the buyer and form part of your income.
You can't claim the VAT on postal credits and assuming you are VAT registered should treat them as income and pay the VAT on the postal credit to HMRC
Seller_d8YGbIjNqwFxn
Postal credits are money given to you by the buyer and form part of your income.
You can't claim the VAT on postal credits and assuming you are VAT registered should treat them as income and pay the VAT on the postal credit to HMRC
Seller_d8YGbIjNqwFxn
Also you have asked this question twice before and answers don't change if you keep on asking the same question
Seller_d8YGbIjNqwFxn
Also you have asked this question twice before and answers don't change if you keep on asking the same question
Seller_ae51e0CJoHqCX
You don't claim VAT on credits, you should pay VAT on credits. As others have said a credit should be treated as an income.
Sometimes I think we over complicate things and worry too much about the jargon.
If you are VAT registered and assuming not on the VAT flat rate scheme then all of your vatable sold goods which in most cases is the income along with any postage charges paidto you (in the UK), services etc will be subject to VAT. There maybe some exceptions depending on what you sell like milk or cream cakes but most general purpose items are vataable at 20 percent.
Any debits ie postal chargeds may or may not have a VAT element to them so you go into your transaction report at the end of you vat cycle and pull off the invoices and you can find which parts you can claim back. Some services are aero rated, some parts are exempt so no VAT has been paid and no VAT can be claimed back. You can't use your postal credits as a figure to generate any sort of useful infromation that will allow you to claim back any sort of VAT or add to a return.
For rreclaiming VAT that you have paid on postage through Amazon go to your tax document library and look out for Grattan Evri) and Royal Mail. These have invoices with a VAT element and ypu can reclaim on these in the same way as you treat any invoice.
In a nut shell I will happily shed light on it. No you can't but if you are just talking about reclaiming VAT on postage paid then yes you can
Seller_ae51e0CJoHqCX
You don't claim VAT on credits, you should pay VAT on credits. As others have said a credit should be treated as an income.
Sometimes I think we over complicate things and worry too much about the jargon.
If you are VAT registered and assuming not on the VAT flat rate scheme then all of your vatable sold goods which in most cases is the income along with any postage charges paidto you (in the UK), services etc will be subject to VAT. There maybe some exceptions depending on what you sell like milk or cream cakes but most general purpose items are vataable at 20 percent.
Any debits ie postal chargeds may or may not have a VAT element to them so you go into your transaction report at the end of you vat cycle and pull off the invoices and you can find which parts you can claim back. Some services are aero rated, some parts are exempt so no VAT has been paid and no VAT can be claimed back. You can't use your postal credits as a figure to generate any sort of useful infromation that will allow you to claim back any sort of VAT or add to a return.
For rreclaiming VAT that you have paid on postage through Amazon go to your tax document library and look out for Grattan Evri) and Royal Mail. These have invoices with a VAT element and ypu can reclaim on these in the same way as you treat any invoice.
In a nut shell I will happily shed light on it. No you can't but if you are just talking about reclaiming VAT on postage paid then yes you can
Seller_K8edOfPu9HEmN
I mean this is basic stuff right? And FWIW, if your putting yourself forward in business, and trying to make a living you really should know this sort of basic stuff, shouldn't you?
Seller_K8edOfPu9HEmN
I mean this is basic stuff right? And FWIW, if your putting yourself forward in business, and trying to make a living you really should know this sort of basic stuff, shouldn't you?
Seller_D8wiHtHCFzdBW
I’ll send you a link shortly with some information relating to your question .
Seller_D8wiHtHCFzdBW
I’ll send you a link shortly with some information relating to your question .
