TOMS VAT Calculation Examples

TOMS VAT Calculation Examples
TOMS VAT Calculation Examples

Many businesses (and perhaps occasionally advisors!) can sometimes see the TOMS VAT calculation as a huge mountain to climb. As with any mountain, the most attractive option might sometimes be to turn around, run the other way and go and have a nice drink. So if you are having sleepless nights about how to approach a TOMS VAT calculation, don't worry you are certainly not alone! The good news is that in about 95% of cases this complexity is a myth. Actually, once a calculation is tailored for your business, and the relevant data is gathered from systems, the calculation itself is a reasonably straightforward annual process with a couple of extra sums in the in-year quarterly VAT returns. So here I have provided some of the basic equipment needed for TOMS VAT mountain climbing which will hopefully give you a bit of a leg up...

Please click on this link to read on