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Reverse Charge VAT and the VAT Statement
nav001
Member Posts: 39
Could someone possibly shed some light on the following:
Ive setup up reverse charge VAT in the VAT posting setup for purchases made in the UK, the client is based on Ireland. When I post an invoice and View the VAT Statement, the entry shows in VAT Due on EU Purchases and Value of EU purchases. To my understading this is correct. However, upon speaking to a fellow accountant as well as the Client, they are saying that these entries should also show on VAT Due on EU Sales and Value of EU purchases. Please could someone shed some light on this matter. Is it at all possible to show these entries on all 4 lines in the VAT statement, or is this just not the nature of Reverse Charge VAT.
Thanks :?
Ive setup up reverse charge VAT in the VAT posting setup for purchases made in the UK, the client is based on Ireland. When I post an invoice and View the VAT Statement, the entry shows in VAT Due on EU Purchases and Value of EU purchases. To my understading this is correct. However, upon speaking to a fellow accountant as well as the Client, they are saying that these entries should also show on VAT Due on EU Sales and Value of EU purchases. Please could someone shed some light on this matter. Is it at all possible to show these entries on all 4 lines in the VAT statement, or is this just not the nature of Reverse Charge VAT.
Thanks :?
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