Many thanks Vince. I'm just trying to work out how to set up a VAT code for this in Quickbooks so that the net amount appears in Box 8 of the VAT Return!
OK, sorted that
-- Edited by Stardoe on Tuesday 5th of March 2013 08:05:52 PM
Hi everyone...what a lovely day it's been here today....temp got up to 15 degrees....positively a heatwave!
I have a client who has made a one-off sale to a VAT registered business in Portugal, so has zero rated the sale for VAT purposes (she has the VAT no. etc). My question is (not having had much experience of EU sales) does she need to complete an EC Sales list? It says on HMRC website that if you've filled in box 8 of your VAT return they'll automatically send you one to complete. I don't know for sure if she intends this to be a regular thing, but I don't think so.
I believe they do send them out automatically the *first time* there's a figure in box 8, but it would probably worth ringing them to check. Once you've had the form once, though, you'll get them every quarter, whether there have been any EC sales or not.
(One of my clients gets them, and the form is for the same quarter as the VAT return, and has to be submitted *before* the VAT return. That may just be a timing anomaly - but the point is, other than the very first one, each form's receipt can't be a result of the value in box 8, if it is submitted before the corresponding VAT return.)
__________________
Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
You can now file EC Sales lists online. EC Sales lists always run to calendar quarters (Mar/Jun/Sept/Dec) regardless of the business' VAT quarters. You should be able to download a blank EC Sales list form to submit on paper. The deadline for paper returns is 14 days after the quarter end (I know, ridiculously tight deadline). The deadline for online returns is 21 days after the quarter end. You have to set up the facility to file EC Sales Lists as an addition to online VAT returns so try to do this as soon as you can so it is activated before the return is due.
__________________
Sheelagh Lyons Bookkeeping Clarity Making Bookkeeping Clearer
The answers I provide are meant as a general guide only and do not constitute advice.
You can now file EC Sales lists online. EC Sales lists always run to calendar quarters (Mar/Jun/Sept/Dec) regardless of the business' VAT quarters. You should be able to download a blank EC Sales list form to submit on paper. The deadline for paper returns is 14 days after the quarter end (I know, ridiculously tight deadline). The deadline for online returns is 21 days after the quarter end. You have to set up the facility to file EC Sales Lists as an addition to online VAT returns so try to do this as soon as you can so it is activated before the return is due.
Many thanks for that Sheelagh. The invoice for this sale was raised in January but has not yet been paid. As this cilent is on cash accounting for VAT it will not appear on the VAT return until it is paid. So I don't need to include it on the Sales list until it is paid do I?
