MARGIN SCHEME
Manage margin scheme bookkeeping with less manual calculation
Buying and selling goods under the margin scheme adds another layer to your bookkeeping. Taxmo helps you track the relevant purchases and sales and supports both the global and individual methods, reducing the need for separate spreadsheets.
Your VAT, this quarter
How it works
Global or individual, calculated for you
- Record eligible purchases and sales using the margin scheme settings in Taxmo.
- Turn on the margin scheme in Settings and choose your method.
- With the global method, Taxmo brings together the margin for each filing period and VAT rate. With the individual method, you enter the purchase price on each invoice line and Taxmo calculates the margin per item.
- Taxmo then shows the margin VAT on your VAT return.
How Taxmo helps
What Taxmo helps you do
Why people trust Taxmo
Built for people who'd rather not become tax experts
Tax knowledge built in
Taxmo works out your BTW rubrieken and walks you through each filing step by step. You get clear answers, not jargon.
Your data stays safe
Servers and database in the EU (Frankfurt), encrypted data, multi-factor login and GDPR compliance.
Reviews
What Taxmo users say
“
Taxmo has been a very transformative bookkeeping experience for me. They give you every single type of tool you will need to run a small scale to medium scale business. The customer service is exceptional as well. They get back to you right away. I couldn't be more satisfied. I highly recommend the service.
Dylan Rogers
Owner, Drive Bye Auto Rentals B.V.
Frequently asked questions
Quick answers about Taxmo, your account, filing and billing.
What does Taxmo's margin scheme feature do?
It helps you record margin scheme purchases and sales and calculate the relevant VAT figures using the global or individual method.
Which margin scheme methods does Taxmo support?
Both. The global method, which is the default, calculates the margin per filing period and VAT rate. The individual method calculates it per item.
Can I also record sales using standard VAT?
You can keep standard VAT transactions and margin scheme transactions in your bookkeeping. Make sure each transaction uses the appropriate treatment.
Does selecting the margin scheme mean a transaction qualifies?
No. You need to establish whether the transaction is eligible before applying the margin scheme. Ask your accountant if you are unsure.
Can I review the calculations before submitting my VAT return?
Yes. Review the recorded purchases, sales, and calculated figures before filing your return.
