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Posted Mon, 16 Dec 2024 10:31:11 GMT by liam
I bought Lead and claimed the VAT for it months ago. I have since sold bits of it and owe the Tax and VAT on the purchase to HMRC. How do I declare this? If I put it on outcome and income tax is that not declaring it twice? (again, already claimed vat when purchased). Thanks
Posted Tue, 17 Dec 2024 08:52:09 GMT by HMRC Admin 19 Response
Hi,
If you are VAT registered then you would charge the VAT on your goods and then account for the VAT on your VAT return. You can see the guidance regarding the completion of your VAT return here:
How to fill in and submit your VAT Return (VAT Notice 700/12)
Thank you.
 

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