Difference between revisions of "How to deal with sales to EU countries and V.A.T. reporting"
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==Summary== | ==Summary== | ||
− | This Article will explain how to | + | This Article will explain how to deal with Sales to EU Countries and how this will affect V.A.T. Reporting and specifically V.A.T Box 8. |
==More Information== | ==More Information== | ||
− | If you are | + | If you are selling goods to EU Countries then your customers need to be set up in a specific way: |
− | *The [[How do I Add a New Country?|Country]] of the customer should be entered on the Invoicing Tab of the | + | *The [[How do I Add a New Country?|Country]] of the customer should be entered on the {{Tab|Invoicing}} Tab of the {{Menu|Customer Properties}}. |
− | *The EC member flag should however be set to | + | *The EC member flag should however be set to {{DataValue|No}} unless the customer is V.A.T. Registered and has supplied their V.A.T. Number. |
− | The reason for this is that you only have to declare | + | The reason for this is that you only have to declare goods sold to EU countries if the customer is V.A.T. registered or you exceed the Distance Selling Threshold of that Country in a specific V.A.T Period or the previous three periods. |
− | {{Tip|iconsize=small|text=For the H.M.R.C. Explanation of Box 8 and what is to be entered see [http://www.hmrc.gov.uk/vat/managing/returns-accounts/completing-returns.htm#6 Here]}} | + | {{Tip|iconsize=small|text=For the H.M.R.C. Explanation of Box 8 and what is to be entered see [http://www.hmrc.gov.uk/vat/managing/returns-accounts/completing-returns.htm#6 Here].}} |
− | {{Tip|iconsize=small|text=For Distance selling Thresholds for EU Countries see [http://ec.europa.eu/taxation_customs/resources/documents/taxation/vat/traders/vat_community/vat_in_ec_annexi.pdf Here]}} | + | {{Tip|iconsize=small|text=For Distance selling Thresholds for EU Countries see [http://ec.europa.eu/taxation_customs/resources/documents/taxation/vat/traders/vat_community/vat_in_ec_annexi.pdf Here].}} |
− | If you feel you would exceed the Threshold then please {{SupportContact}} | + | If you feel you would exceed the Threshold then please {{SupportContact}}. |
== See Also == | == See Also == |
Revision as of 08:14, 30 April 2012
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This article or section is under review. Be aware: Content may change as the document is reviewed. |
Summary
This Article will explain how to deal with Sales to EU Countries and how this will affect V.A.T. Reporting and specifically V.A.T Box 8.
More Information
If you are selling goods to EU Countries then your customers need to be set up in a specific way:
- The Country of the customer should be entered on the [Invoicing] Tab of the " Customer Properties".
- The EC member flag should however be set to 'No' unless the customer is V.A.T. Registered and has supplied their V.A.T. Number.
The reason for this is that you only have to declare goods sold to EU countries if the customer is V.A.T. registered or you exceed the Distance Selling Threshold of that Country in a specific V.A.T Period or the previous three periods.
For the H.M.R.C. Explanation of Box 8 and what is to be entered see Here. |
For Distance selling Thresholds for EU Countries see Here. |
If you feel you would exceed the Threshold then please Contact your Platinum dealer or our support team on 0116 230 1500 or by using our website support contact page.
See Also