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<html><head><meta http-equiv="Content-Type" content="text/html; charset=ISO-8859-1"><title>C.1. UK Vat</title><meta name="generator" content="DocBook XSL Stylesheets V1.45"><link rel="home" href="index.html" title="GnuCash Tutorial and Concepts Guide"><link rel="up" href="appendixc.html" title="Appendix C. Contributed Account Trees"><link rel="previous" href="appendixc.html" title="Appendix C. Contributed Account Trees"><link rel="next" href="fdl.html" title="Appendix D. GNU Free Documentation License"></head><body bgcolor="white" text="black" link="#0000FF" vlink="#840084" alink="#0000FF"><div xmlns="http://www.w3.org/TR/xhtml1/transitional" class="navheader"><table width="100%" summary="Navigation header"><tr><th colspan="3" align="center">C.1. UK Vat</th></tr><tr><td width="20%" align="left"><a accesskey="p" href="appendixc.html"><<<Prev</a></td><th width="60%" align="center">Appendix C. Contributed Account Trees</th><td width="20%" align="right"><a accesskey="n" href="fdl.html">Next>>></a></td></tr></table><hr></hr></div><div class="sect1"><div class="titlepage"><div><h2 class="title" style="clear: both"><a name="appendixc_vat1"></a>C.1. UK Vat</h2></div></div><p>
Account types (only shown if different to parent type)
</p><div class="itemizedlist"><ul><li><p>[E] Expense</p></li><li><p>[I] Income</p></li><li><p>[A] Asset</p></li><li><p>[L] Liability</p></li><li><p>[Q] Equity</p></li><li><p>[B] Bank accounts</p></li><li><p>[C] Credit Cards</p></li><li><p>[R] Accounts Receivable</p></li><li><p>[P] Accounts Payable</p></li></ul></div><p>(Box n) refers to VAT form box number (I actually have these as
descriptions to the account to remind me)</p><p>Add all the (Box n -part) together to get the whole (Box n)
The VAT shows you liability - if its negative they owe you.</p><p>Capital Equipment (Box 7 - part) and (Box 6 - part) is the value of all *additions* (purchases) made over the VAT return period - not the absolute value, nor the difference in value unless that difference is wholly due to new purchases. Depreciation, losses (e.g a write off of faulty item) and other reductions in capital value are not included. If you sell a capital item then that sale and its VAT is recorded under Income. The asset is 'converted to cash', so the 'net of VAT' increase in your bank account, when the invoice is payed, is matched by a decrease in capital.</p><div class="literallayout"><p><br>
BankAccounts[B]<br>
|___MainAccount<br>
|___ReserveAccount<br>
<br>
Cash[A]<br>
<br>
Assets[A]<br>
|___CapitalEquipment(Box7-Part)-additionsonly,notabsolutevalue<br>
||___ComputersCanbedepreciatedtozerothisyear<br>
||___EECreverseVATpurchase(Box6-Part)createsub-accountsifneeded<br>
|___Other<br>
<br>
Receivable[R]Customerstowhomyougivecredit-(businesssection)<br>
<br>
<br>
Cards[C]<br>
|___Card1<br>
<br>
Liabilities[L]<br>
|___OwedCorpTax<br>
|___OwedFees<br>
|___OwedTax/NI<br>
|___Other<br>
<br>
VAT[L]Net(Box5)<br>
|___i/p[A]purchases(Box4)<br>
|___o/p[L](Box3)<br>
|___EEConreverseVATpurchases(Box2)<br>
|___SalesallincludingzerorateUK/EECandWorld(Box1)<br>
<br>
Payable[P]Supplierswhogiveyoucredit(businesssection)<br>
<br>
Equity[Q]<br>
|___CorpTax<br>
|___Director'sLoan<br>
|___Dividends<br>
||___Director1<br>
||___Director2<br>
||___Shareholder1<br>
|___Grants(andstuffthatdoesnotcountasincome)<br>
|___OpeningBalances<br>
<br>
Income[I](Box6-part)<br>
|___Interest<br>
|___Misc<br>
|___Sales<br>
|___EEC<br>
||____goods(Box8)(subaccountsasneeded)<br>
||____servicesincludessoftware(subaccountsasneeded)<br>
|___UK<br>
|____World<br>
<br>
Expenses[E]<br>
|__Depreciation<br>
|__Emoluments<br>
||___DirectorsFees<br>
||___NIEmployer<br>
||___Employee1<br>
||___NI<br>
||___NetSalary<br>
||___Stakeholder<br>
||___Tax<br>
|___OtherNonVATExpenses<br>
|___VATPurchases(Box7-part)<br>
|___Accountancy<br>
|___BankCharges<br>
|___Consumables<br>
|___EECreverseVATpurchases(Box6-Part)<br>
||___goods(Box9)(subaccountsasneeded)<br>
||___servicesincludessoftware(subaccountsasneeded)<br>
|___Office<br>
|___PhoneandInternet<br>
|___Software<br>
|___Subscriptions<br>
|___Sundry<br>
|___Travel/Accom<br>
<br>
</p></div></div><div xmlns="http://www.w3.org/TR/xhtml1/transitional" class="navfooter"><hr></hr><table width="100%" summary="Navigation footer"><tr><td width="40%" align="left"><a accesskey="p" href="appendixc.html"><<<Prev</a></td><td width="20%" align="center"><a accesskey="h" href="index.html">Home</a></td><td width="40%" align="right"><a accesskey="n" href="fdl.html">Next>>></a></td></tr><tr><td width="40%" align="left">Appendix C. Contributed Account Trees</td><td width="20%" align="center"><a accesskey="u" href="appendixc.html">Up</a></td><td width="40%" align="right">Appendix D. GNU Free Documentation License</td></tr></table></div></body></html>
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