C
corkcarl
Guest
Hi all,
I'm new to this so hope you can bear with me.
I've recently taken over a business where i worked for a number of years and am now registered as a sole trader of a small business. My only concern is calculating VAT on sales. My accountant has informed me that it is done by taking all the cash and laser payments and calculating the 13.5% on them (which makes perfect sense).
he also includes my monthly sales invoices which I wont recieve payment for 30 days (or more in this climate). I have heard conflicting advice on this as some say you should only pay VAT on all income (cash, laser and cheques).
If somebody could help I would be extremely grateful.
Thanks
I'm new to this so hope you can bear with me.
I've recently taken over a business where i worked for a number of years and am now registered as a sole trader of a small business. My only concern is calculating VAT on sales. My accountant has informed me that it is done by taking all the cash and laser payments and calculating the 13.5% on them (which makes perfect sense).
he also includes my monthly sales invoices which I wont recieve payment for 30 days (or more in this climate). I have heard conflicting advice on this as some say you should only pay VAT on all income (cash, laser and cheques).
If somebody could help I would be extremely grateful.
Thanks