De Registered for VAT half way through self assessment period

[Kelly_33]

Hi

How do I treat our accounts for self assessment when we de registered for VAT half way through our period.

Thanks
Kelly

 

[Mike Conroy]

this is a very basic answer as i have not got all the facts however, de registering for VAT will have no impact on the tax position of your business.
1. you should of paid any money you owe to the revenue or reclaimed it
2. you do not charge vat on the sales invoices
3 on purchase invoices you just add the total invoice cost to the purchase ledger when posting invoices.

 

[Kelly_33]

hi

Thanks for this, for the purchase invoices do I just take the gross amount from the date of de registration?

 

[Mike Conroy]

yes, you use the gross or total amount and post this to your purchase ledger. like you said from de registration

 

[Kelly_33]

thanks