VAT & Settlement Discount
We offer settlement discount to some of our larger customers of up to 2.5%. The VAT is calculated after taking the settlment discount into account i.e.
Net 100.00
VAT 17.06 (100 - 2.5% x 17.5%)
Total 117.06
What should I show as the value my output £100.00 or £97.50?
Thanks
Martyn
Martyn Shiner
- Set up a company pension 280
- RTI Fees 266
- 2011 FHL loss & ITA 2007 s74a 245
- Where's our 10%? 241
- Driving sales growth 210
- UK Property Purchase by an overseas individual in own name 204
- Cost of converting property - who pays? 200
- CIS late registration 195
- EIS 194
- Accounting for gift vouchers - paid for and donated 187
- Break up basis accounting 182
- Best structure 174
- Accounts production software for business SSC 171
- Property owned privately 165
- Membership of trade association - tax deductible? 163
- High Income Child Benefit Tax Charge Error? 157
- iQor recovering HMRC debts again 146
- Accruing for fixed asset invoice 138
- ICB certificate... any benefits? 132
- SEIS and DeMinimus Aid 130
VAT Guide 3.1