Anastasios
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VAT and Self assessment Tax Calculation
Hi, I worked as self-employed from November to late March and have already submitted my VAT return for this period, paying approximately £800 in VAT. I’m now preparing my self-assessment with a total profit of £8,400 for the year. I’m unsure whether to include the £800 VAT payment and the £300 I previously submitted as expenses in my VAT return, or if I should just apply the £1,000 trading allowance. Additionally, since my earnings are below the £12,570 threshold, will the £800 VAT be refunded to me in any way? Thank you.