VAT Reverse Charge / Postponed VAT

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VAT Options Explained

When creating a sales or purchase invoice in QuickFile you will see a number of additional VAT options in the invoice editor. These options can be used to control the boxes within which the NET and VAT totals are reported in your VAT return. In this guide we explain when to use each of the VAT options and the effect that each will have on the VAT return. VAT on sales The examples provided are below for standard VAT accounting and are based on a £1000 sales invoice plus VAT (where applicable). …