Saturday, November 12, 2011

VAT on gas charges (UK)?

Although British Gas is correct in a certain respect (your monthly installments are VAT inclusive), for ease of bookkeeping, you should really set up a supplier account for British Gas where you can enter all the monthly installments directly grossed up (as you cannot claim back VAT without a VAT invoice) and post the quarterly bills through the same account, claiming back the VAT on those bills.

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