First time submitting Self assesment when VAT Registered on the flat rate scheme.

helpmewithmytax111

Hi,
Firstly I dont like to ask without researching first and that I have done without success.
So first time filling self assesment whilst being VAT registered, and I have a few questions before I input.
I called HMRC the other day and they helped link my VAT details to my existing log in for self assesment which I have done myself for the last 10 years plus.
I have all my figures together and Im just wondering if I put my total income as the total inclusive of VAT?
So if I charged £1000 for a job the total income with VAT was £1200 to keep it simple.  I done that for ten month and I had 2 month off through the year...
So total income of £10,000 + VAT is £12000.  
Im on the FLAT RATE SCHEME of 9%..
Is my total income for the year either
A) £10,000  ( ignoring VAT althogether )
£12,000 . ( Every £ that hit my bank that year )
C) £10,920 . ( The total figure minus 9% )

Any advice anyone could give would be great.
Also any links to videos or guides to help or anything else you think I should know.

Thanks you all.

oldbikebloke

so it appears your question is how do you prepare a set of accounts when vat registered.
answer: go and get an accountant or a bookkeeper.
A debit is an asset (debtor) on the balance or an expense on the profit and loss account
A credit is a laibility (creditor) on the balance sheet or an income on the profit and loss account

on flat rate scheme your accounts are always prepared on a NET basis. In reality that means the sales are net of VAT, and the expenses are gross since no Vat can be deducted from them 
You appear however to have ignored or not understood that the flat rate surplus is a part of your income. That is is whole point of the scheme, you get to "keep" the "profit" 

The following is for illustration only, the way of setting out of the vat is not how you'd do it in the real world.
Sales £1,000 + vat = £1200 charged to client so Debit: debtor £1,200 Credit: sales £1,000 Credit Vat flat rate scheme £200 
client pays you £1,200 in cash : Debit bank £1,200 Credit debtor £1,200
Vat Flat rate scheme surplus:
vat payable to HMRC 1,2000 x 9% = £108
Vat collected from client  £200
balance on FRS 200 - 108 = 92

profit and loss account
sales 1,000
FRS £92
Taxable income £1,092

balance sheet
Bank account £1,200 debit balance
Vat liability £108 creditor
net assets £1,092

what do you do that you think 9% is your sector rate? Do you meet the criteria every quarter to avoid having to use the limited cost trader rate?

TheCyclingProgrammer

A mentioned above, the flat rate scheme surplus is income.  It isn’t necessarily all profit mind you as it’s intended to cover your additional cost of not being able to directly recover in out VAT on your purchases (except capital purchase over £2k). 

So your turnover is reported as gross sales (inc VAT) less the flat rate paid to HMRC. It’s up to you whether or not you book the surplus to a separate account in your books but I recommend you do so you can keep an eye on the total surplus vs input VAT paid each year. 

Expenses are accounted for gross of VAT.