In past it was OK to show purchases as gross. But with new reverse charge legislation I need to show the VAT on purchases. When creatin purchases QF wont let me enter VAT.
What an I do?
Why do you need to show vat on purchases if you are not vat registered?
I am VAT registered, but withdrawing from the Flat Rate Scheme.
If invoice is subject to reverse charge vat, there wont be any vat on it for you to enter, you will have to use net amount and tick reverse charge on invoice
Once you have turned off the flat rate setting in your QuickFile account, then it will allow you to itemise VAT for purchases in the normal way. There will then be a checkbox under “additional VAT options” at the bottom of the purchase editor to apply the reverse charge (for construction, I presume, given you refer to “new legislation”).
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