Hi,
I passed a year end VAT adjustment journal as the shareholder paid for the VAT in their personal capacity
The entry went against the "Opening Balance and VAT adjustment" account
I now need to reallocate this to their loan account
PS this has…
As per your VAT registration, or change thereof, you may be required to change your VAT reporting frequency.
This is usually from 2 months to 1 month or vice versa.
It is possible to do this without affecting your previous VAT reporting history. …
Key facts about VAT for start-ups and small businesses
The Quick Start Guide to VAT includes details regarding the following:
VAT Basics
VAT Rates
VAT Registration
VAT Invoices
Surcharges and Penalties
VAT Returns
Click here for m…
