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12 December 2022
Potential VAT returns error
One of my clients is concerned that he has been recording the ‘outputs’ figure wrongly in box 6 of his quarterly VAT returns. I must admit that I am confused by HMRC’s guidance as well. Here are my three questions:
- He does IT consultancy work for a business in America – my understanding is that he leaves this income off the return because it is not a supply in the UK under the general business-to-business rule. But my client is concerned that this will make his business look less profitable than it is because the related costs of this work are included in box 7 as an input.
- A major deal in the last quarter was to sell a shipment of computers to a business in Norway. The computers went from China to Norway and never entered the UK. I told him that he should not record either the costs...
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