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Post Info TOPIC: European VAT 15%
LouiseMcg


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European VAT 15%
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Hi ,  I have an expense claim for a colleague to be put onto sage, it has vat of 15%, what is the correct tax code to use? would it be T8?

Thanks!



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MarkS


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How can you have VAT of 15%, unless an invoice from the time when the VAT rate was 15%.

VAT is either 0%, 5% or 20%.  It may say on the receipt you have that the VAT rate is 15% but wouldnt expect you would be able to reclaim it as probably VAT rate of another country.

Regards

Mark



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
LouiseMcg


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Sorry, i forgot to mention it was a European invoice, that is why it is 15%.

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Robert Pearce


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This invoice will be outside the scope of UK VAT and so should be excluded from the VAT return (T9).  

You said that it was an expense claim so I assume that it's from your colleague travelling in Europe.  Subject to the input VAT rules of the country in question, it might be possible to reclaim the EU VAT - see here for more details.



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Pearce & Co - Chartered Accountant and Chartered Tax Adviser 

www.pearceandcoaccountants.co.uk

These comments are outline only and are not a substitute for specific professional advice.
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