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Entering Import VAT


#1

Hi

I need to enter some invoices relating to import charges. The highest value is import VAT but I do not seem able to amend the VAT to any amount over the expected 20%.

For example
Invoice total 59,945.77
Import VAT 57,325.38
The remainder is made up of various shipping process charges.

VAT registered so able to claim back and entry is on the C79 certificate.

How should this be entered on Quickfile?


#2

The only way you can enter VAT of significantly more than 20% is to put two lines on the purchase, one for the net amount on which that is the VAT portion (so £286,626.90 in this case) with 20% VAT, then another line for minus the same net amount at “no VAT”.


#3

OK, understood. Thank you.


#4

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