New to PVA so please bear with me…
tax return due tomorrow and finally today my CDS registration has been completed and i can access and download my PVA statements from HMRC…
I have looked through how to account for this on quickfile and see that we need to tick the ‘postponed accounting rules for imported goods’ as we enter the invoices from suppliers. and QF will sort the VAT out on vat returns etc when generated on QF.
However i have received a container of goods in May 2022 ( from China) but those goods were paid for in 5 seperate payments / invoices dating far back as May 2021… so i cant go back and tick PVA rules on invoices that old as they wont be accounted for in my latest VAT return… so how do i account for all this? I have a total amount paid obviously but that wont match the invoices in the last 3 months…
in fact we often have numerous invoices that will span across months, as we pay deposits for products and only final amounts some months later once goods are ready…
so can be 3 or 4 or more invoices for a single shipment spanning often 6 months or more… but the vat will only be due on import?
Many thanks
Clive