Posting an invoice for import VAT from a freight forwarding company

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Knightonbookkeeping
Knightonbookkeeping Registered Posts: 1
in VAT
Hello, I've received an invoice from a freight company for VAT paid on goods received from Italy into the UK. The original invoice from the supplier has no VAT. I don't have the facility in SAGE to make the freight company an import agent. Which nominal and tax code would you advise that i use to make sure it all appears in the right place on the VAT return?.... Many thanks

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  • dcmcguren
    dcmcguren Registered Posts: 7
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    Brexit is soooooo annoying.

    One way around this so that the VAT is recorded correctly on the return would be to enter the invoice with two/three lines.

    1. The value of the gross goods that equal the VAT amount you are being charged for
    2. Then a negative line item to deduct the NET of those goods recorded with No VAT (ie outside of the scope)
    3. normal entry for the duty and any additional charges

    This will have a DR/CR net effect in the p&l for the value of goods and the correct VAT will be recorded on the balance sheet and included in the VAT return

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