Invoices marked as EC on VAT Return - again

Hi Glenn
I have the same issue as Tracy, but in reverse. I have a client in Finland that I’ve been invoicing for the last 5 months (with no VAT) but have only just realised that I should have changed their client profile to show them as an EC client for VAT. Consequently their invoices are currently being treated as VATable at the standard rate. Could you perform the same magic on my account please.

Pete

Continuing the discussion from Invoices marked as EC on VAT return:

You should be able to resolve this by first changing the VAT preference for the client.

Then going into the invoices in question and selecting the “Apply Reverse Charge” option.

Let me know if that works for you.

Hi Glenn
Thanks for the prompt response. This works for Invoices that have not yet been paid. For invoices that have already been settled I assume I add the value of that paid invoice to Box 8 adjustments on the VAT report?

Am I right in thinking that the VAT Return report in quick file doesn’t actually show me the VAT for which I’m actually liable - I would need to deduct the VAT portion of the exempt amounts from the Net VAT to be paid?

Pete

The VAT will be calculated accurately and providing the reverse charges is applied, the NET total of that invoice will also feature on box 8 without requiring any adjustments.

Thanks - but I will need to make an adjustment to take account of one invoice that has already been settled - I can’t retrospectively make any edits to invoices already paid, right?

Thanks for your support as ever

No problem,

Yes you can edit an invoice that is marked as paid, however if you change the amount to exceed the payment it will switch to “Part Paid”.

If an invoice has already been included on a VAT return, then in such cases you won’t be able to edit it. You can however use the adjustment boxes on the VAT return to make any alterations to the default calculations.

Hope that helps!

This topic was automatically closed after 7 days. New replies are no longer allowed.