If the figures on my balance sheet are net of VAT, do I show the VAT I owe

[A M]

as a creditor ? If so, do I show all figures as Gross ?

[Mul]

Gross means including VAT
Net means without VAT

Your figures in the BS should be net of VAT.

The VAT balance will be a creditor or debtor depending on sales and purchases in the year. If Sales which are eligible for VAT are higher than purhcases (where VAT can be reclaimed) then the balance will be a creditor, as you owe to HMRC. If the opposite is true, ie. you claim more than you pay over, then HMRC are a debtor to you, for the VAT on your purchases.

Hope this helps.

[mossgarden]

Of course you do. Keep all reciepts though, so that you can show were the money went, some-times this is tax-deductable. I think that VAT is at 17.5%, so obviously if you show the figures as gross just multiply by 17.5%.

Show everything and be as open as you can...there is no harm in this, you might be pleasently suprised.