M
mrman123
Guest
A large part of my business income is commission for which we are vat exempt.
we do other work which we charge vat on and we but items that we pay vat on.
I would have thought that to calculate my vat bill i ignore commission income and offset the sales with the purchases and pay/clai the difference. Is this correct or is it calculated differently due to the revenue from commission?
we do other work which we charge vat on and we but items that we pay vat on.
I would have thought that to calculate my vat bill i ignore commission income and offset the sales with the purchases and pay/clai the difference. Is this correct or is it calculated differently due to the revenue from commission?