VAT Notice 700/22 4.3.2 says 'For each supply you make you must record the:
- time of supply - the tax point
- value of the supply - the net value excluding VAT
- rate of VAT charged
Note the requirement to record the rate of VAT - there is no requirement to record the actual output VAT.
The spreadhsets used by our clients don't record the rate: they record the gross, VAT and net. We'll be using Absolute VATfiler to link these to HMRC. Does anyone intend to amend their spreadsheets to record the rate of VAT in accordance with 700/22?