Reverse Charge VAT UK Localization

bteredesai
bteredesai Member Posts: 129
edited 2012-01-18 in NAV Three Tier
Hi,

Does anyone has a document on Reverse Charge Functionality included in GB database.

I am looking for help on fields added to General Ledger Setup.

Thanks,
Bhushan

Comments

  • thmartin
    thmartin Member Posts: 90
    Have a look on PartnerSource:

    https://mbs.microsoft.com/partnersource/downloads/hotfixes/nav50gb_cdcr23213.htm?printpage=false&sid=51lomlalt1hqi3vlq3r3vqrf&stext=UK%20reverse%20charge
    Thomas Martin
    NAV Developer
  • bteredesai
    bteredesai Member Posts: 129
    Hello,

    Thank you for this link.

    I am using GB R2 database. I have done all the set up as per user instructions document. However still unable to calculate VAT (reverse charge) as per HMRC guidelines.

    The rule for reverse charge VAT is if for a specific category of product sales amount exceeds £5000 then VAT should not be calculated on sales invoice. In this case VAT will be paid by the purchaser of goods directly to HMRC.

    If sales amount doesnot exceeds £5000 then VAT should be calculated at a normal rate.

    I am not sure whether I am missing any set up or there is a bug in UK localization released by Microsoft.

    Thanks.
    Bhushan
  • edu_DK
    edu_DK Member Posts: 2
    Hello Bhushan,
    You need to fill in fields on the Reverse Charge tab in the General Ledger Setup window, but also in the Sales & Receivables Setup window and the Purchases & Payables Setup window. And then you need to specify for each item if the item is subject to reverse charge.

    Then it should work as required. If not, let me know.

    /Eva

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