EC Acquisitions on first VAT return

Forgive my lack of knowledge, I’m a newby, go easy on me!

I’m in the process of working out how to submit my first VAT return which will be for 11/04/2015-31/05/2016 (became VAT registered in April 16) but I am under the impression I can reclaim the VAT paid on supplies and equipment I still have in my first year prior to becoming VAT registered (business started 11/04/2015).

I regularly purchase supplies from suppliers in other EC States and have, up until becoming VAT registered in April 15, paid VAT of varying percentages, on these purchases.

I’ve just realised that these suppliers needed to be stored as ‘VAT registered in another EC state’ and as a result have gone through my supplier list and changed them.

I have a couple of questions;

  • If the EC invoice has been paid, inclusive of VAT (prior to VAT registration), how should this be logged? I’m under the impression I can claim this VAT back using the EU VAT refund scheme - but is the VAT on these invoices included in the ‘VAT reclaimed on purchases and other inputs’ box?
  • If the EC invoice is without VAT (after VAT registration), how should this be logged? Am I right in think the ‘apply VAT reverse charge’ box should be ticked?
  • Can I change the purchases already entered to meet the right criteria or do I need to delete them and re-enter them?

The ‘VAT due on EC acquisitions’ box on my VAT return is currently 0.00 I don’t know if that’s correct or not

Thank you in advance

Regarding your first question, there are many caveats when it comes to retrospective VAT reclaims, I would check with your accountant just to make sure. If they are eligible you should just be able to enter the invoices with that specific rate of VAT and it will get picked up on the return (just check your backing report to be certain).

Yes generally speaking, applying the reverse charge option should be sufficient. There’s a section here in the VAT return regarding this. Just bear in mind that QF will treat all EC acquisitions as if they were goods not services. If they are services you will need to manually adjust some boxes for now (see here for more details).

Yes you can changes them without needing to delete and re-enter.

Hope that helps!