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Vat 604 Form

Vat 604 Form

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Quick guide on how to complete vat 604 form

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Video instructions and help with filling out and completing Vat 604 Form

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Instructions and help about Vat 604 Form

right good morning everybody in today's lesson we're gonna look at that but pacifically the difference between the exclusive and the inclusive vet and secondly how to do the calculations now the first thing we need to remember is that in 2018 the VAT rate was increased from 14 to 15 percent so you need to adapt all your calculations in your textbooks which are probably written as 14% but you need to upgrade them and now start working on the 15 percent right the exclusive and the inclusive exclusive as it says it's eggs it does not include vet whereas inclusive is an amount that includes a vet so the process quoted includes vet the exclusive does not include vet now our starting point whenever we do these calculations remember was a hundred percent so the exclusive is your starting point at a hundred percent we then add on 15% vet so the inclusive amount is a hundred and fifteen percent now that's a very important concept you understand the difference bet

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