EC Acquisitions
bob22
Registered Posts: 9 New contributor 🐸
Hi,
I am preparing the accounts for a company that is VAT registered and there are a few purchases from Germany.
The invoices were not zero rated but include tax charged at 12%.
Does anyone know the way to treat these invoices in Sage?
Thanks,
I am preparing the accounts for a company that is VAT registered and there are a few purchases from Germany.
The invoices were not zero rated but include tax charged at 12%.
Does anyone know the way to treat these invoices in Sage?
Thanks,
0
Comments
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The UK company should have given the German company their VAT number and asked for the goods to be zero rated. Then UK VAT would have been added to box 1 of their VAT return and an identical amount reclaimed in box 4.
I think that Sage is set up with a default code of T8 for EU VAT.
If the VAT cannot be reclaimed then I put it through the gross amount as T0, so that the sums are shown on VAT returns.
If the purchase was for example fuel while travelling in Germany, you can reclaim the VAT by completing a German VAT form (in German!). There are however companies who specialise in this - I think that one of the Dean's recommended a firm on this site a while ago.......
Claudia0
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