VAT Flashcards
EXPORTS
Zero Rated - Box 6 Only (if proof of export avail)
IMPORTS
Zero Rated - Box 7 Only (if VAT charged can be reclaimed in box 4 on receipt of C79 form)
EU Sales Personal
Add 20% & enter in boxes 1 and 6
EU Sales Vat Registered Business
Zero VAT - Enter full value in boxes 6 and 8
EU Acquisitions (Goods) from VAT registered Supplier
VAT 20% in boxes 2 and 4, full value boxes 7 and 9
EU Acquisitions (Services) Reverse Charge from VAT Registered Supplier + subject to Reverse Charge in Invoice
VAT 20% in boxes 1 and 4, full value boxes 6 and 7
BOX 1
VAT on UK Sales
VAT on Non VAT registered EU sales
VAT on EU Acquisitions (Services) reverse charge
BOX 2
VAT on EU Acquisition Goods)
BOX 3
Total VAT Out Box 1 + Box 2
BOX 4
Total VAT In
VAT on UK Purchases / Expenses
VAT on EU Acquisition goods added back
VAT on EU Acquisition services (Reverse Charge) added back
BOX 5
Box 3 minus Box 4 (Due to HMRC or Repayment)
BOX 6
UK Sales Exported Sales NON VAT registered EU Sales VAT Registered EU Sales Service (Reverse Charge)
BOX 7
UK Purchases UK Expenses (Standard, Zero and Exempt rate) Imported Goods EU Acquisitions (goods) Service - Reverse Charge
BOX 8
VAT Registered EU Sales
BOX 9
EU Acquisitions (goods)
