Accounting for VAT flat rate scheme | AccountingWEB

Accounting for VAT flat rate scheme

What is the book-keeping double entry for the VAT flat rate scheme? The normal 17.5% VAT on sales goes to the sales control account. Then when the VAT is paid there is a difference on this control account that should go to the P&L account? Does this go to sales or to a seperate account? Is it disallowable for tax purposes?
Thanks Karen
Karen Crawford

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Post everything gross

AnonymousUser |

I think this is the page you need

Markrich17 |

Simple guide to the bookkeeping

andyjdicker |


martinfoley07 |