VAT on Exchange rate losses

I am cleaning up the debtors and creditors ledger for a client that buys and sells in foreign currency so they both show varying balances outstanding and overpaid due to exchange rate losses and gains. The best way to clear them is to issue additional invoices/credit notes posting them to Exchange rate gains and losses.

Would they be any VAT on these?

Comments
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wouldnt have thought so

Craigie_Bhoy |
Craigie_Bhoy's picture

Exempt

leshoward |
leshoward's picture

I don't think he said

Richard Willis |
Richard Willis's picture

Funny coz at first i thought

Craigie_Bhoy |
Craigie_Bhoy's picture

VAT reports affected by adjustments via invoicing

Suntree |
Suntree's picture

Can we claim bad debt relief then

bduncan |

No!

mr. mischief |
mr. mischief's picture

Agreed (with Mr Mischief)

Hansa |
Hansa's picture