There has been no confirmation that the UK are actually leaving the EU on the 31st of October and as of yet QuickBooks have not been advised that we should discontinue using any of the EC VAT codes. We advise you contact HMRC for further details.
Is there any further update regarding my question as it currently looks likely that we will be leaving the EU on 31st December without a deal?
@John C wrote:
If we are informed by HMRC that there are to be changes then we will act accordingly.
Thanks for getting back to us here, we've recently put together a Brexit FAQ which you can view here where we'll be explaining all of the changes within QuickBooks in response to this, we'll try to keep the changes to a minimum but please keep checking this as we'll be updating regularly.
Let me share additional details on the available VAT codes in QuickBooks that you can use.
Once you have set up VAT in your QuickBooks account. the system automatically sets up a list of common VAT codes for you. If you ship goods to a customer in an EC Member State, you should not charge VAT if your customer supplied a valid VAT registration number. However, if you purchase goods from another business that is registered for VAT in an EC Member State, you should not be charged VAT if you give the supplier your VAT registration number. You can read through this article to learn more about how it works: EC VAT codes.
Also, I'd recommend visiting the HMRC's website or give them a call so you'd be guided properly on which VAT code to use and when whilst dealing with EU sales.
Lastly, I've added these articles to help you manage VAT in QuickBooks:
Let us know here if you have other questions or concerns. I'm always here to lend a hand.
Your response is fine for the current situation as we and our supplier are both currently part of the EU. My question relates to when we leave the EU on 31st December 2020 - how do we account for the VAT and duty that will arise if the UK leaves the EU without a trade deal!