VAT - are outputs on the vat return inclusive or exclusive of refunds made to customers?

VAT - are outputs on the vat return inclusive...

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Hi all

I thought I was doing this right, until, as so often happens, I read contradictory advice on the internet ...

I sell digital stuff. If I make a sale and then give a customer a refund, have I made a sale for the purposes of the vat return?

Thanks

Ralph

Replies (4)

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chips_at_mattersey
By Les Howard
11th Feb 2015 21:43

Box 6

The value of outputs on your VAT Return is net sales less net refunds.

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By RalphTrader
14th Feb 2015 10:08

VAT

Lovely! It's what I've been doing; nice to get the confirmation. Thanks. Ralph.

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By shaun king
12th Feb 2015 21:00

Depends

If the sale is one VAT accounting period and the refund is in another - then you report the sale in the first period and the refund in the second.

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By RalphTrader
14th Feb 2015 10:07

VAT

So far, everything has been contained within one accounting period, but I'm sure that won't last!  Thanks for the comment - now mentally tucked away for future use!

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