SKL111

I see. Thank you for the explanation!

When I received the tax payment for 2024-25 it says: "This amount does not take into account any 2024-25 payments on account you may have already made" But the question is, since the last statement (2023-24) already included a partial payment for 2024-25, which was around half of the amount, this payment is due on 1/7/25. Should I continue to make this payment on 1/7/25? If I make this payment on 1/7/25 and this amount is not deduced from my 2024-25 balance , so I am doubly taxed for 2024-25? How can I effect the amount that I have already paid in my tax calculation?

I am VAT registered. So in this example if I sell a item £120 (inl VAT) and I buy an item also £120 (inl VAT) . According to Admin 19 I either put £120 as income and £120 as expense including VAT) or £100 as income and £100 as expense (excluding VAT) . Sounds making sense

Thanks Admin 19

I am selling items as a sole trader and I am also VAT registered. Should the income in the self assessment inclusive or exclusive of VAT? for e.g. If I sold an item at £120 and paying £20 VAT. Then the income amount should be £100 or £120?