VAT postings in Sage on EU sales after reaching treshold

violeta

We are in a process of registering for VAT in another EU country because we exceeded threshold.
Does anyone have any experience how to process those sales in Sage? I understand I need to use Box 8 of VAT return but do I then put VAT element to zero? Also is there any other additional documentation that needs to be submitted to HMRC with UK VAT return to support this?

Any advice would be appreciated whilst I am still looking into it myself.

Thank you

KaySarah

1).Enter VAT on acquisition in Box 2 (unless it would it is a Zero supply)

2).Enter input tax in Box 4

3).Enter cost of goods in Box 7 and 9

EC sales list - N/A

Intrastat - declare cost of goods (only if annual threshold of £600,000.00 is reached)



1). and 2). cancel each other out as this is mostly a monitoring exercise only.

Gem7321

@KaySarah I think you've got the wrong end of the stick?

I'm sorry I'm not sure what the answer is but fairly certain it doesn't apply to EC Purchases. And the Intrastat Acquistions threshold is now £1.5m not £600k.

KaySarah

You're quite right Gem7321 - sorry - speed reading and I assumed EU purchases. I guess Sage Helpdesk would be the best people to ask? Sorry Violeta

Gem7321

I believe, but I may be wrong, that they should be posted as T9 transactions and should not appear on your UK VAT return at all because you are declaring them on your relevant EU return.