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What figure to use when calculating income tax

Discussion in 'Accounting and Legal' started by Bob Atkins, Jan 29, 2020.

  1. Bob Atkins

    Bob Atkins New Member

    I use a flat rate vat scheme which allows me to charge 20% but only pay 9.5% to HMRC. When I am calculating my income tax liability do I calculate it on gross income less 9.5% or gross income less the full 20% vat?

    Thanks
     

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