Recent content by MDE200

  1. M

    E-commerce Bookkeeping Requirements?

    I pay for each item individually from multiple different suppliers. Therefore there is no supplier statements, just individual invoices.
  2. M

    E-commerce Bookkeeping Requirements?

    Yes, as all payments go through the same bank and they are all 20% VAT rate, it would just be the same as a supplier statement. The problem here is I do not use one specific supplier, I suppose it is more of a flipping business in that sense. So I would have thought there would be an alternative...
  3. M

    E-commerce Bookkeeping Requirements?

    OK, thank you. However, 4.3 .3.2 is specifically referring to using supplier statements, not bank statements. So surely, there must be a same or different rule to using bank statements, which isn't covered in that VAT notice?
  4. M

    E-commerce Bookkeeping Requirements?

    The items are bought from all different suppliers, therefore I do not have supplier statements. However, the bank statement shows the total of all these purchases and there is a paper trail back to all individual transactions, with VAT invoices all stored online. Why would that not be allowed?
  5. M

    E-commerce Bookkeeping Requirements?

    I have software setup with my Excel bookkeeping for HMRC making tax digital. My only concern is whether I need to show purchased goods and VAT on them for each individual transaction on my bookkeeping, or if it's ok to just put the total amount and total input VAT, via a bank statement that I...
  6. M

    E-commerce Bookkeeping Requirements?

    Sorry, I should also note that I am VAT registered, does this change anything? As all my purchased goods are always 20% VAT, will it be fine in my bookkeeping to just take 1/6 of my monthly bank statement to reflect input VAT? And having individual VAT invoices stored online if ever questioned.
  7. M

    E-commerce Bookkeeping Requirements?

    Thanks! I have all individual goods purchased invoices stored and accessable online. So a paper trail wouldn't be a problem if checked by HMRC. If they don't require the bookkeeping to show each individual purchase, so I can just put the total with a monthly bank statement; that would save me...
  8. M

    E-commerce Bookkeeping Requirements?

    I sell on eBay and from my understanding, as a business, the bookkeeping needs to show each individual transaction (which I am fine with doing). However, all the items I purchase for reselling are also made individually (not bulk/wholesale). Does my bookkeeping need to also show each purchase I...
  9. M

    Selling Capital Allowance Purchases

    Thank you for your clarification. I am also VAT registered, am I required to include VAT in this sale?
  10. M

    Selling Capital Allowance Purchases

    I run an eccomerce business and had purchased a laptop, which was filed as a capital allowance on a previous self assessment. Unfortunately, I have broken the laptop and would like to sell what remains of it. Where do I put this sale in my bookkeeping? Does it go with the sales in my eccomerce...
  11. M

    HMRC VAT Assessment Wrong

    Spoke to my accountant. As the letters I received are from 2 different HMRC departments, one from 'Imperial House' (who I sent my net figures to) and the latest letter I received (stating the figure I owe, which is lower than the net figures I provided) was from 'VAT Registration Service'; my...
  12. M

    HMRC VAT Assessment Wrong

    I have been in contact with HMRC for a number of months now trying to resolve an issue with my business, which is owing VAT for a previous year which I didn't account for or submit to HMRC at the time. After realising my accounting error, I came forward to HMRC earlier this year to notify them...
  13. M

    First VAT Return

    I am trying to complete my first VAT return, however I am running into difficulties understand some of the boxes, specifically box 9 (Total value of all acquisitions of goods and related costs, excluding any VAT, from other EC Member States). I have purchased some goods from Germany, however I...
  14. M

    VAT Refund on Goods Purchased From Another EU Country

    Thanks for your answer. I understand that ideally I should have provided my VAT number when purchasing yo get the VAT zero rated. However, I failed to do this and 2 weeks have now passed and they won't be able to re-invoice for me. Is there anyway to reclaim the VAT now, without registering for...
  15. M

    VAT Refund on Goods Purchased From Another EU Country

    Is it possible to reclaim VAT on goods you have purchased for resale, which are imported from another EU country? I am VAT registered in the UK, I have purchased an item on Amazon from an EU seller who is VAT registered in Germany (not UK), and I have purchased the item purely for resale.
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