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Pru1
Level 2

Different EU VAT rates

Hi,

 

I have a client that has recently registered for VAT and has bills and travel receipts from the EU that have different VAT rates depending on the country. Can I simply add new VAT rates to Quickbooks and apply so that he can reclaim the tax? Eg. Apply a 21% VAT rate from The Netherlands to his bill? Is it that simple?

 

Thanks!

Solved
Best answer May 02, 2020

Accepted Solutions
FritzF
Moderator

Different EU VAT rates

Thanks for getting back to us, @Pru1.

 

Since we're unable to advise as to what specific type of VAT rates to use on their supplier's bill or receipts, I highly recommend consulting this to HMRC for further guidance with this matter.

 

For future reference, consider checking out this article: Common VAT Codes.

 

Please let me know how it goes or if you have any other questions or concerns. I want to make sure everything is taken care of for you. Cheers!

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3 REPLIES 3
FritzF
Moderator

Different EU VAT rates

Thanks for dropping by the Community, @Pru1.

 

When charging tax to customers in the EU, you can use 20% Standard VAT if they're registered. If they're not VAT Registered company, you can use the 0% ECG or ECS codes so that the purchaser of your goods/services can account for VAT at their acquisition rate. However, I highly suggest reaching out to the HMRC or your accountant for further guidance.

 

Just in case, I'll add these articles for future reference:

 

 

Please leave a comment below if you have any other questions or concerns, and I'll get back to you as soon as possible. I'm always here to answer them. Have a great day!

Pru1
Level 2

Different EU VAT rates

Hi @FritzF ,

 

No, that's not the issue, I'm all set up for my sales invoices.

 

How do I account for the VAT on his supplier's bills? For example he has been given a bill for €121 that includes VAT at 21%. He also has Subsistence receipts when travelling that include different VAT rates. He would like to claim back the VAT. I have a month's worth of bills from suppliers that include VAT, I assume because they weren't aware at the time that my client was VAT-registered. 

 

Thanks,

 

Jude

FritzF
Moderator

Different EU VAT rates

Thanks for getting back to us, @Pru1.

 

Since we're unable to advise as to what specific type of VAT rates to use on their supplier's bill or receipts, I highly recommend consulting this to HMRC for further guidance with this matter.

 

For future reference, consider checking out this article: Common VAT Codes.

 

Please let me know how it goes or if you have any other questions or concerns. I want to make sure everything is taken care of for you. Cheers!

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