I am doing a Vat return,Should i be putting in None in box 7 if i am doing the new 8.5% thing?

Question

Update:

I know when i converted to this method i had help and im sure thats what they told me. but since then i have forgot and been putting the amount in there

Answer 1

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I assume by the new thing, you mean the flat rate scheme.

No entry is required in Box 7, since the flat rate scheme makes allowances for your input tax. (There are exceptions for some capital goods. See the HMRC site.)

Source(s): Accountant 40 years.

Answer 2

Have a look at HMRC's website - it really is quite helpful:

http://customs.hmrc.gov.uk/channelsPortalWebApp/ch...