SKL111

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?

Thanks

I am a sole trader and VAT registered and operate my business by working at home. My questions are: 1. Am I able to claim a certain ratio (say 25%) of the home expense, such as rent , utilities , service charge as my business expense in my tax return? 2. Am I able to reclaim the VAT portion of the above expense (such as 20%VAT of the service charges) , and if so, the ratio same as that in (1)?

Thank you

Hello HMRC Admin 8 , thank you for your reply. Does it mean that I should open a separate account for Self-Employed, in addition to my existing account for self assessment by using the same UTR?

Hello? Can someone answer this?

For the last few years I have no UK income but oversea incomes so that I have been filing self assessment returns using my government gateway. Starting from the next year, I may expect some UK incomes as a self employed sole trader. Do I need to open a new account to register for sole tradership? I look through this web page and it says that I can register it through my existing business tax account https://www.gov.uk/register-for-self-assessment/self-employed However, when I log in my current account, I cannot find any button to add a sole tradership?