Is there any way of recording expenses/income as outside scope so they come in/go out of bank but do not hit the VAT return?
Hi Louise,
Yes, just set the VAT treatment to 'Out of Scope' in the transaction window.
Regards,
Thanks Mark BUT how do I set outside scope as at the moment the options I have are standard rated (17.5 or 15), reduced rate (5) or zero and while no VAT appears on the VAT return the outside scope gross amount is sitting in box 7 which is technically incorrect.
I am sure it will be something I am doing!
Thanks
Louise
Hi Louise,
The 'VAT Treatment' field is not part of the VAT column, but is shown separately below the table. By default it says 'Purchase of Goods or Services from UK Supplier', but you can change this to 'Out of Scope - Does Not Affect VAT Return'.
Regards,