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VAT Help. Self Employed

  • 01-11-2016 11:41am
    #1
    kerryjerry
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi,

    I'm just trying to do most of my VAT returns as I can't afford for the accountant do do everything.

    From using the Big Red Cloud. Just using example figures below.

    BOX T1- 8300
    BOX T2- 5500

    BOX T3 Net Vat Payable €2800

    Is this basically how much VAT is owed.?

    Just want to see if I have done each step right.


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    kerryjerry wrote: »
    Hi,

    I'm just trying to do most of my VAT returns as I can't afford for the accountant do do everything.

    From using the Big Red Cloud. Just using example figures below.

    BOX T1- 8300
    BOX T2- 5500

    BOX T3 Net Vat Payable €2800

    Is this basically how much VAT is owed.?

    Just want to see if I have done each step right.

    Looks OK from those figures. T1 is the vat due on your sales. T2 is the vat on your purchases you are offsetting against the sales vat. T3 is the vat due to pay.


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