Hi, I’m inexperienced when it comes to business and I’m busy trying to sort out my first ever VAT Return using QuickFile. It was all going quite well until I realised that one of our expenses is a £60 service charge from the Apple Store (iOS Developer Program), including Irish VAT charged at 23%!
I have read all I can on these forums and have a vague idea on how to handle it but I’m still a little unsure and confused so any help would be greatly appreciated (due to deadlines, I’m having to do this on Christmas day).
I have Apple as a supplier and have entered their VAT Number and also checked ‘VAT Registered in another EC Member State’ in VAT Settings. In addition, I have made a purchase invoice for the order, adjusted the VAT Rate to 23% and made sure that ‘Apply VAT Reverse Charge’ is selected/checked. This is what I have and I’m not sure if it’s right:
Sub Total: 48.78
VAT: 11.22
EC VAT EXEMPTION: -11.22
Gross Total: 48.78
Paid to Date: 48.78
Balance (GBP): 0.00
In addition, here’s an identical question from a user of FreeAgent. I’ve read the solution and I’m wondering how to do the same in QuickFile:
http://community.freeagent.com/freeagent/topics/how_do_i_account_for_eu_vat_and_eu_vat_refunds
I’m stressing about it so any help would be fantastic and I’m happy to provide more info wherever necessary!
Thanks,
John