[GNC] UK Flat Rate VAT

[Murugan Muruganandam]

Paul

The Tax table will not change and will affect the full value in the invoice.
You need to create a separate transaction to effect the Flat VAT, by Dr tax payable  £2 and Cr income  £2





Saludos Cordiales


Murugan

________________________________
From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail.com at gnucash.org> on behalf of Paul W via gnucash-user <gnucash-user at gnucash.org>
Sent: Friday, December 23, 2022 2:27 PM
To: gnucash-user at gnucash.org <gnucash-user at gnucash.org>
Subject: [GNC] UK Flat Rate VAT

There's a few posts about this subject but I can't find any that provide a solution. I'd like to know how to account for UK Flat Rate VAT.
EgInvoice: £1000+ VAT @ 20%: £200Invoice Total: £1200
Flat Rate VAT @ 16.5% of invoice total is paid to the government: £198The remainder is added to income: £2
Than you, Paul

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