Insurance Premium Tax
Insurance Premium Tax (IPT) is not the same as Value Added Tax (VAT) and therefore cannot be reclaimed as VAT. When processing invoices including IPT you will need to pay this tax along with the fee. Reviewed 14/05/2018 KB17874
Schoolcomms – Recording VAT
If your school sells items such as book bags online via SchoolComms you will need to inform County/HMRC of the VAT element, in order that the monies can be reclaimed. At the moment there is no defined way for a school to mark a payment request as being VAT applicable within Schoolcomms. This would make…
Petty cash asking for VAT registration number
Following the recent FMS upgrade schools are now required to enter a VAT registration number when entering a Petty Cash Expense.
How do I change the default VAT?
This information is held by each ledger code…………