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mandylimbrick
Level 1

Why does an ECS 0% VAT code populate both Net Value of Sales and Net Value of Purchases on the VAT summary of the VAT return?

 
1 REPLY 1
ShiellaGraceA
QuickBooks Team

Why does an ECS 0% VAT code populate both Net Value of Sales and Net Value of Purchases on the VAT summary of the VAT return?

Hello mandylimbrick,

 

Both your sales and purchases are subject for 0% ECS VAT reporting. That's the reason why the said code populates both boxes 6 and 7 of your VAT return.

 

I've got this handy article for more information about: Common VAT Codes.

 

Additionally, QuickBooks is in compliance with HMRC on the calculation of VAT.

 

Please visit our website for future reference: VAT for QuickBooks Online.

 

You can always swing by if you need help with anything else.

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