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Level 3

Supplier not registered for VAT - which VAT code?

Hi all
30 years a photographer, just gone over to QBO after two decades on desktop.
 
Qs x6:
 
Now we have MTD I am going to have to be careful with my supplier VAT codes. I’ve not usually cared if I used E, Z or N as it made no difference, it just had to be 0%. But now that the HMRC are going to be sniffing around the intimate details...
 
I know N code is for a not registered supplier, like my freelance assistants.  But...
1) what about the Post Office, or
2) British Airways, or
3) my Insurers? Are they Zero rated or Exempt? How do I find out?
4) And what about a lost receipt, when VAT has been paid, but I cannot reclaim it because I have no proof of the rates and amounts, what code for that?
5) Also, if a receipt is for a small sum (what is the maximum?) and the VAT rate is not identified on the (say) till receipt, and the net and VAT amounts are not broken down, BUT the supplier has printed their VAT number, what do I do when I can safely assume VAT has been charged, and should by rights be reclaimed?  Do I now have to ask for a full VAT invoice for every cup of tea and buttered scone I buy while out on location? 
Thanks in advance
John Wildgoose
Solved
Best answer 02-16-2019

Accepted Solutions
Highlighted
QuickBooks Team

Supplier not registered for VAT - which VAT code?

Hey there, John Wildgoose.

 

We're unable to recommend on what VAT codes that you'll be using on those situations. If you're unsure of what code to use, you can check with your government or accountant. They can provide you with the best input in every situation provided. You can always check this article for future reference: Common VAT Codes.

 

You can safely assume that a VAT has been charged once your supplier will provide you a bill with the VAT calculation. Once you have them already, you can record them in the system. Thus said, it's better to ask the full VAT bill.

 

If you have other questions, you can always leave a comment. 

View solution in original post

1 REPLY 1
Highlighted
QuickBooks Team

Supplier not registered for VAT - which VAT code?

Hey there, John Wildgoose.

 

We're unable to recommend on what VAT codes that you'll be using on those situations. If you're unsure of what code to use, you can check with your government or accountant. They can provide you with the best input in every situation provided. You can always check this article for future reference: Common VAT Codes.

 

You can safely assume that a VAT has been charged once your supplier will provide you a bill with the VAT calculation. Once you have them already, you can record them in the system. Thus said, it's better to ask the full VAT bill.

 

If you have other questions, you can always leave a comment. 

View solution in original post