VAT Archives - IRIS KashFlow

The UK’s Post-Brexit Border Operating Model

susan.rigby@iris.co.uk — Thu, 25 Mar 2021 09:00:24 +0000

There is now a requirement to declare all goods exported from / imported into the UK. The general procedures are fundamentally those that were in place before Brexit to handle exports and imports to/from non-EU states. There are, however, interim arrangements available for EU imports until 30 June 2021 such that an entity importing standard […]

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Postponed VAT Accounting (PVA) – What does it mean for Me?

susan.rigby@iris.co.uk — Wed, 24 Mar 2021 09:00:39 +0000

Changes to Kashflow to date We have now implemented all key changes required by the introduction of PVA in the United Kingdom. As a result, the post-Brexit VAT set-up for UK-users is now significantly different from the pre-Brexit European Community (EC) standard approach. If you are VAT registered outside the UK, however, your VAT approach […]

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EU VAT Rates

susan.rigby@iris.co.uk — Wed, 20 Jan 2021 13:47:24 +0000

Change the VAT Rate From 1st January 2021, you may need to record your EC Sales with a 0% VAT rate instead of at the rate for the recipient’s country There are a couple of ways to do this in KashFlow and you can choose which option is best suited for you Manually amend […]

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VAT Scheme – Cash Accounting

Amy Callister — Wed, 18 Nov 2020 15:14:35 +0000

VAT Cash Accounting Scheme The Cash Accounting Scheme for VAT allows you to pay for or claim back your VAT only when the Invoice or Purchase has been paid rather than when they are issued. This can help small businesses ensure that they have received the money from their customer before having to pay it […]

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KashFlow Billing queries – Self Manage

susan.rigby@iris.co.uk — Wed, 03 Jun 2020 11:28:00 +0000

How to update address/contact details on your account Open up KashFlow Bookkeeping and go to: · Company Details · Click on the Address Line. This will open all address lines and these can be edited with the correct information. · Under Contact Details, you can type in the correct information. · Click “Update” at […]

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0% and N/A VAT

KashFlow — Mon, 24 Feb 2020 14:40:12 +0000

This article explains the difference between 0% and N/A VAT

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Flat Rate Scheme – Missing transactions on VAT Return

Amy Callister — Mon, 24 Feb 2020 10:17:14 +0000

On the flat rate scheme, the only transactions that should appear on a VAT return are sales, or purchases above £2000 if it is classed as a fixed asset. If you have entered sales bank transactions but these are not appearing on the VAT return, the result for this could be due to the way […]

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Claiming Bad Debt on Cash Accounting Scheme

Amy Callister — Tue, 18 Feb 2020 15:58:16 +0000

To write-off a bad debt of an unpaid invoice you will need to open the unpaid invoice and go to Refund> Write off as bad debt and then follow instructions on the screen. If you are on the accrual VAT scheme then you do not need to take any further steps in order to submit […]

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Submitting VAT

Natasha Chryssafi — Thu, 10 Jan 2019 15:47:21 +0000

In this article, we will go through the new Taxes dashboard and your VAT submissions. Under the Taxes tab you will find your new Taxes dashboard. This dashboard replaces the use of VAT Management and Reports which you would usually find under your Reports tab. Clicking onto your VAT tab will show you an overview […]

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Working with Mileage

susan.rigby@iris.co.uk — Tue, 07 Aug 2018 08:53:14 +0000

In this article we will be guiding you through KashFlow’s new feature Mileage. Set up If you are a Partnership or Sole Trader – You will find the Mileage tab in the main taskbar on the left of your KashFlow account. When you first click on to the Mileage tab you will be presented with […]

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GDPR: Key Facts

susan.rigby@iris.co.uk — Tue, 17 Apr 2018 14:53:23 +0000

On 25th May 2018, the General Data Protection Regulations will replace the Data Protection Act 1998. If you handle any form of personal data, then this will affect your business. It is therefore essential you effectively prepare. 5 things you need to know The General Data Protection Regulation (GDPR) is replacing the Data Protection Act 1998 from […]

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KashFlow comparison

susan.rigby@iris.co.uk — Thu, 28 Sep 2017 09:18:12 +0000

Competitor Analysis: July 2017

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FRS VAT rate change for limited cost businesses

Nicholas Graham — Mon, 20 Mar 2017 17:09:28 +0000

If you are on the flat rate scheme for VAT, HMRC are making a change this April that may affect you. From April 1st 2017, businesses with limited costs using FRS, will have a new rate of 16.5%. Am I affected? HMRC have defined a limited cost trader as someone whose total expenditure on goods […]

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VAT Flat Rate Scheme

Dev Team — Fri, 12 Aug 2016 13:00:42 +0000

What is it? The default HMRC VAT schemes requires to declare and pay the full amount of VAT charged on sales/invoices to HMRC. The Flat Rate Scheme (FRS) for VAT lets you reclaim some of that money. How does it work Under the Flat Rate Scheme (FRS) for VAT, you agree a fixed rate with […]

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VAT MOSS Report

George Gillespie — Thu, 26 Mar 2015 16:27:11 +0000

VAT MOSS Reports In order to submit your single VAT MOSS return, you will first need to run a VAT MOSS report within KashFlow. In order to generate this, click on Reports in your navigation bar and under General Reports, select VAT MOSS Reports. Create New Select the option to create a New VAT MOSS […]

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EC sales not appearing on a VAT return

Christopher Want — Thu, 19 Feb 2015 16:05:54 +0000

If you’ve made sales to the EU and find that the transactions are not being pulled into box 8 of your VAT return (Total value of all supplies of goods and related costs, excluding any VAT, from other EC member states) then you will need to enable the option to let you set on a […]

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Setting up VAT MOSS in KashFlow

KashFlow — Mon, 22 Dec 2014 14:58:22 +0000

KashFlow lets you record your digital service transactions, so that you will be able to create a VAT MOSS return for HMRC. There are three steps to get KashFlow setup for MOSS: Record your participation in the MOSS scheme. Set your customer’s country. Allocate or set existing sales codes as digital services. Activating MOSS If you’ve registered for […]

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VAT on digital services and MOSS

KashFlow — Mon, 22 Dec 2014 09:00:37 +0000

From the 1st of January 2015 the EU are introducing new legislation on VAT. The sale of digital services, to customers within the EU, will require VAT be charged at the rate of that consumers country. What are digital services? Digital services refers to broadcasting, telecoms and e-services. Broadcasting – Radio and television services such […]

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FRS VAT and Crossover Periods

Duane Jackson - Founder — Mon, 29 Jul 2013 20:13:48 +0000

If the VAT periods you are reporting on overlap a change in VAT Flat Rate Scheme rates, then your VAT report needs to be calculated partially on the old rate and partially on the new rate. KashFlow makes that easy. Go to Settings -> VAT Settings. Set your current FRS rate as normal If you […]

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VAT Submission Errors

George Gillespie — Thu, 25 Jul 2013 14:49:29 +0000

When you have the option to file your VAT return and EC sales list enabled in KashFlow, you may find that in some cases you receive an error message referring to the VAT validation. In order to be able to submit a VAT return via KashFlow, you will need to ensure that online filing is an […]

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EC Sales List

KashFlow — Sat, 16 Mar 2013 18:13:59 +0000

Your EC Sales List is a report detailing all VATable sales of certain goods and services made to EC Customers over a certain period. This article explains some basic settings and how to run the report within KashFlow. For more information on EC Sales Lists please click here for HMRC guidance on ESL. Settings Please note […]

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Reverse Charge

KashFlow — Sun, 03 Feb 2013 23:17:10 +0000

This article advises on how to manage reverse charges in KashFlow for purchases.

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100% VAT Invoice

KashFlow — Thu, 31 Jan 2013 11:49:09 +0000

This article explains how to create a 100% VAT invoice

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Box 9

KashFlow — Thu, 31 Jan 2013 11:48:24 +0000

This article explains what Box 9 on the VAT return is and how to show the appropriate figure within it

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Display VAT on Invoices

KashFlow — Thu, 31 Jan 2013 11:47:05 +0000

This guidance shows you how to show a breakdown or total of VAT on your invoices

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Flat Rate Scheme Purchases

KashFlow — Thu, 31 Jan 2013 11:44:59 +0000

This article advises on how to reclaim capital expenditure purchases on your VAT return when on FRS

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How To Do A VAT Return

KashFlow — Thu, 31 Jan 2013 11:43:48 +0000

This article advises on how to run a VAT Return in KashFlow

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Invoicing Before VAT Number Issued

KashFlow — Thu, 31 Jan 2013 11:42:45 +0000

This guidance advises on how to invoice without your VAT number

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Recording VAT Payment

KashFlow — Thu, 31 Jan 2013 11:41:42 +0000

This article describes how to record a VAT payment in KashFlow

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VAT Liability on Overview Page

KashFlow — Thu, 31 Jan 2013 11:39:39 +0000

This guidance shows you how to get your VAT liability displayed on the overview page

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Recording Return as Submitted

KashFlow — Thu, 31 Jan 2013 11:35:19 +0000

This article advises on why you need to submit a return in KashFlow

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EC Service Sales

KashFlow — Thu, 31 Jan 2013 11:34:09 +0000

This article advises on how to record services sales on your VAT return

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VAT refunds

KashFlow — Thu, 31 Jan 2013 11:31:33 +0000

This article advises on how to handle VAT refunds in KashFlow

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Standard VAT Nominal Codes

KashFlow — Thu, 31 Jan 2013 11:27:03 +0000

This article advises on the standard VAT Nominal Codes in KashFlow

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Modifying Transactions & VAT

KashFlow — Thu, 31 Jan 2013 11:20:39 +0000

This article explains what happens when you modify a previously VAT reconciled transaction

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Import VAT

KashFlow — Thu, 31 Jan 2013 11:18:02 +0000

This guidance advises on how to record taxation for items imported from overseas

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Deleting a VAT Return

KashFlow — Thu, 31 Jan 2013 11:15:40 +0000

This article advises on how to delete a return

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Flat Rate VAT on CIS Scheme

KashFlow — Thu, 31 Jan 2013 11:13:40 +0000

This guidance advises on how to handle Flat Rate VAT when on CIS

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Changing VAT Scheme

KashFlow — Thu, 31 Jan 2013 11:11:24 +0000

This article advises on how to change VAT schemes in KashFlow

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Manual Return

KashFlow — Thu, 31 Jan 2013 11:10:02 +0000

This guidance explains how to do a manual VAT return and record it in KashFlow

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VAT Annual Accounting Scheme

KashFlow — Thu, 31 Jan 2013 11:08:53 +0000

This article advises on the Annual Accounting Scheme for VAT

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Margin Scheme

KashFlow — Thu, 31 Jan 2013 11:07:41 +0000

Unfortunately KashFlow does not support the VAT margin scheme at the moment. We are hoping to introduce this future, for updates please subscribe to our change log where news of support for the VAT margin scheme will be announced first, the link for that is https://www.kashflow.com/change-log

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