Summary
Use this wizard to determine the relevant VAT code to use when posting sales or purchase transactions.
Resolution
NOTE: This article is part of a wizard, if required, you can restart at the beginning.
Which VAT code to use | The transaction should be posted at the normal UK rate. For example, VAT code 1 for standard rate, VAT code 2 for zero rated. |
---|---|
How this affects the VAT Return | The net element appears in box 6 and if applicable the VAT element appears in box 1. |
Proof of exportation - When you sell goods abroad an exportation document is obtained to state that the goods have been sent abroad and not sold in the UK. Proof of exportation is defined in HMRC Public Notice 703 which is available on the HMRC website www.hmrc.gov.uk . For further information, please contact HMRC.
This article provides general rather than specific guidance to assist all of our customers. We always do our best to make sure that the information is correct but as it's general guidance, no guarantees can be made concerning its suitability for your particular needs. The information is valid at the time of publishing and is provided without any warranty of any kind, express or implied. You should take professional advice if you require specific guidance on your individual circumstances, for example to ensure that the results obtained from using our software comply with statutory or regulatory requirements. For VAT, customs and excise and duties enquiries you should call the HM Revenue and Customs (HMRC) National Advice Service Helpline on 0300 200 3700, contact your local HMRC office or visit their website at www.hmrc.gov.uk In no event will we be liable to you for any direct, indirect, consequential or incidental loss or damage arising out of or in connection with your use of the information provided. The VAT or tax codes used in this article are based on the default or recommended codes set up in the software. These may be different in your software. |