UK VAT Purchase Register is a ready-to-use excel template to maintain the records of your purchase during a specific period along with details of Input VAT collected on those purchases.
A purchase register records all the purchase and purchase return transactions from suppliers of the business. In other words, it is your accounts payable ledger also known as a Purchase ledger. Usually, we record our purchase transactions in it.
But in this purchase register, we record transactions along with VAT computation for the UK VAT return purpose.
As per the VAT Guide Notice Number 700 of UK VATThe VAT on the purchase of goods or services which a business pays is referred to as Input Tax.
Whenever you make any purchase for further business supply, you are entitled to pay VAT on the goods or services you purchase. See the image below:
You will require this input tax figure at the end of every tax period to calculate the VAT payable amount. You can use our ready-to-use UK VAT Payable Calculator Template.
According to the Record Keeping for VAT Notice 70021, Point 2.3, it is mandatory for the businesses to keep all your business records. See image below:
Table of Contents
UK VAT Purchase Register Excel Template
We have created a simple and easy UK VAT Purchase Register Excel Template with predefined formulas and formating. You can easily record your VAT purchases as well as purchase return transactions in it. This template auto-calculates the VAT amount for the given taxable value.
In addition to that, you can also download other UK VAT Templates like UK VAT Sales Register UK VAT Debit Note, UK VAT Credit Note, UK VAT Invoice Template, UK VAT Multiple Tax Invoice Template, UK VAT Invoice Template With Discount, and many more from our website.
There is a provision to enter up to 100 invoices in this template. If you have more than 100 invoices, you can insert additional rows as per your requirement. To maintain records for a longer time, either make a copy of this sheet and you can use it for other tax periods.
Let us discuss the contents of the template in detail.
Contents of UK VAT Purchase Register Excel Template
Purchase Ledger or Purchase register consists of the 2 sections: Header Section and Purchase Transaction Section.
The header section consists of headings which include your company name, logo, and your VAT number.
This is a monthly Purchase report. You can record up to 100 transactions in this template. Select the month from the dropdown list and enter the respective year as shown in the image above.
Purchase Transaction Section
Purchase Transaction consists of 2 sections: Supplier’s Details and Purchase VAT Computations. In this section, you need to record your purchase invoices as well as purchase return debit note transactions.
The supplier details consist of the following columns:
Serial Number: The serial number is auto-generated hence you don’t need to make any entry in this column.
Invoice No: Insert the purchase invoice or debit note number.
Invoice Date: Enter the date of the invoice.
Supplier Name: Enter the name of your client/supplier.
Supplier’s VAT No: Insert the respective VAT number of your client/supplier.
Purchase VAT Computation
This section consists of the following columns:
Taxable Amount: Enter the taxable amount of the invoice in this column. The taxable amount is the amount
VAT %: Select the VAT % from the dropdown list. It can be either 20%, 5%, or 0%.
VAT Amount: This column consists of a predefined formula and hence requires no entry. The formula used to calculate the VAT amount is calculated is Taxable Amount X VAT %.
If you have multiple tax supplies in one invoice, insert the entries separately against the same invoice number.
Final Invoice Amount: Similar to the previous column, this column also consists of a predefined formula. Final Invoice Amount = Taxable Value + VAT Amount.
In the end, there are column totals. The first one represents the taxable value, the second represents Total Input Tax, and the third one represents the total purchase amount including VAT.
This template can be useful to small and medium-sized businesses that don’t use any software for record-keeping.
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