Hi , Again Thanks for that . So can i confirm the Builder can only charge extra vat on any markup/profit he makes on the transaction not on the original figure charged that already includes vat
Example 1 : 3524.23 for plumbing work excluding Vat , Vat paid by builder €475.77 to Revenue. Builder has not markup so bill charged to me is 4000. Included in the figure is the Total vat paid to Revenue by Builder of €475.77
Example 2 : 3524.23 for plumbing work excluding Vat, Vat paid by builder €475.77 to Revenue, Builder has markup of 1000 euro so he has to pay revenue 135 Euros . So final bill to me is 5,135 . Included in the figure is the Total vat paid to Revenue by Builder of 610.77
Am i correct in this or am i still missing something
Regards, Jumper1
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