Hi, I am trying out your solar accounts an am very impressed so far. My question is that I use the flat rate vat scheme which allows me to claim the full amount of vat back on a capital purchase costing £2k or more (inc vat).
How can I do this in the solar accounts as it when using the system with the flat rate scheme it doesnt claim back any vat for purchases?
Hi Peter,
You need to tell Solar Accounts that the flat rate scheme does not apply to the capital purchase transaction. Please see the section titled 'Reclaiming VAT on Capital Purchases' on this page for details:
http://www.solaraccounts.co.uk/help/notes-on-the-flat-rate-scheme-for-vat.php
Regards
