VAT and EU purchases

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skips
skips Registered Posts: 12 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
Hi,

Happy New Year to all! :001_smile:

i'm taking my unit 7 asssessment week Thursday and theres a question on the past papers i dont know (we've had about 4 different teachers for this module so obviously something got missed out!:001_smile:)

HOW DO YOU ACCOUNT FOR VAT ,IF AT ALL, ON EU PURCHASES?

the only thing i know is that you have to give them your VAT number and that it gets cancelled out anyway on VAT return

Can anyone help me please?

x

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  • sloshed
    sloshed Registered Posts: 100 Dedicated contributor 🦉
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    Hi :001_unsure:

    Hopefully, this might be of some use?

    In BOx 2 on the VAT return you include the VAT due on EU Purchases

    In Box 4 you also the VAT on EU purchases .....

    In BOx 9 you show the amount of eu purchases excluding VAT

    In order to qualify for the zero rating you have to have a declaration on the supplier invoice which includes your VAT number

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