Hi, im just wondering if anyone may know the answer to a postponed VAT question,
i ship stock in from europe (through TNT) who deliver the goods to myself and then calculate any VAT/Duties after delivery has taken place. And with the new PVA rules they have up to 6 months to process the shipments once they arrive in the UK,
i have a VAT return due in a little over a week and for shipments between january and march out of around 25 shipments so far they have only processed around 8 of these.
I’ve tried asking my accountant the answer to this question but i cant seem to get a straight answer. For the shipments which currently have not been processed by TNT on quickfile they are set to automatically calculate the PVA vat (even for the ones which have not been processed by TNT yet) with ones which have been processed i just go into those transactions and manually adjust the VAT amount (usually only out by a couple of pounds compared to the quickfile amount calculated due to exchange rates)
when it comes to my return do i include the ones in which quickfile has calculated the VAT even though it may not be the exact correct total as it has not been entered into the customs system yet (i wont know until they are processed which is likely to be after this return is submitted) and then credit the invoice (due to quickfile locking it in place once a return is submitted) and re-create the invoice again with the correct PVA total / Date so its correctly adjusted for my next return or do i remove all the PVA vat quickfile has calculated so it does not enter my VAT return at all as TNT have not processed these shipments with HMRC yet,