Hi I just wondered if you can give some advice on the following....
We have recently used a supplier in another EC Member State, they have prin
ted for us brochures at a cost of £25000 (no vat as zero rated)
These brochures have then been delivered to us in the UK. The printers have
issued us an invoice in sterling Now when it comes to filling in the VAT r
eturn, would I need to:
Show this purchase as an entry in BOX 9 (Total value of acquisitions of goo
ds and related costs excluding any VAT, from other EC Member States) of the
VAT return or should this not be the case as printing I would deem as a se
rvice NOT actual goods?
I assume that this would also be included in BOX 7 (Total value of purchase
s and all other inputs excluding any VAT )
Also I have heard about reverse charge accounting, where Boxes 1 (Vat Due i
n this period on sales and other outputs) or BOX2 (Vat due in this period o
n acquisitions from other EC Member States) and Box 4 (Vat Reclaimed in thi
s period on purchases and other inputs ? including acquisitions fro
m the EC) are completed. As there is no VAT on the printing in this case t
hen would these be left as zero £ or would you have to calculate 20% o
n the purchase side and 20% on the input side to cancel each other out??
Any help most welcome..
- posted 3 years ago