Aska1989

Can I also clarify if it’s net positive figure then I would have to report in Box 6 of the VAT return? If my understanding is correct, may I also understand if it’s net negative figure, why do I not need to report in the VAT return? Thank you again.

Based on the Revenue & Customs Brief 05/07, I understand that where my forex transactions are supplies, the consideration will be the net result of all my forex transactions over a period of time and would be exempt under VATA 1994, Sch. 9, Group 5, Item 1. If my net result over the period is a net realised exchange loss, can I confirm if I will be reporting a negative amount to Box 6 of the VAT return? Thank you.