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RosieC
Level 2

Monthly Postponed Import VAT report: Missing some imports?

Hello,

I have downloaded my first HMRC PVA report and it appears to be missing several transactions from International suppliers that I was expecting to see. Does anyone know why this might be? can some imports be exempt from import VAT? I have some goods from Belgium and their invoices still say Intra EU transfer??.

I wonder should I still input these using the RC MCPP 20% vat code (whilst the PVA codes still aren't working) or choose a Zero or Exempt code??
I'm just conscious that my VAT return should reflect the HMRC PVA report which is evidence, rather than note import VAT for every import??
I realise that some suppliers wouldn't have known we were using PVA so in this case the VAT has been charged at the point of entry via DHL or similar (ive paid this and will have to claim it back)
Anyone have any ideas??
Rosie

1 REPLY 1
MariaSoledadG
QuickBooks Team

Monthly Postponed Import VAT report: Missing some imports?

Allow me to share a few information about missing transactions in your HMRC PVA report, RosieC.

 

You'll have to make sure to use the PVA VAT codes so they will be included in your report. You'll be able to find them on the common vat codes. In addition, you can find the PVA Import VAT codes in the VAT rate settings in QuickBooks.

  1. Go to Taxes and select Edit Settings.
  2. Select Edit VAT rates, and on the smaller gear icon select Show Inactive.
  3. Switch it on using the toggle.

Also, you'll not see codes when creating transactions. These new VAT codes will only appear if the transaction is dated on or after 1 January 2021 and has been made active in the VAT rate settings.

 

On the other hand, if you are on the Flat Rate Scheme, you will find that some of the codes will not post in the same way. For more information on where these codes post, see UK Flat Rate Scheme: How does it work?

 

For your reference, please check this out for additional information: VAT Return to Account For Import VAT.

 

Feel free to let us know if you need anything else about VAT. We're always right here to help.