How do I set up a domestic reverse charge VAT rate in QBO Ireland? Lots of pre-defined codes but none for domestic RC which I need for sub-contractors.

The default and pre-defined codes are automatically set up when activating the Tax feature, stephenconnelly.

There's also an option where you can add a custom VAT rate for purchases in QuickBooks Online. Here's how:

1. Go to the Taxes menu, then click Add tax in the upper-right hand corner.
2. Click Tax rate or Custom tax.
3. Enter the Tax name, Description of the tax, and the Tax agency that collects the tax.
4. Check the box for Purchases.
5. Enter the VAT rate and account where the tax is reported, then provide all other required details.
6. Click Save.

We always want to ensure we're compliant with Ireland's rules and regulations. Thus, visit their website for more information: VAT Rates Overview. 

Lastly, you can check out our resource hub to get links about managing your tax-related tasks in QBO. 

The Community is always here if you need anything else. 

Hi JenoP

Thanks for the reply. Unfortunately that doesn't help. The default and pre-defined codes don't include a domestic reverse charge code and the method you've shown me below doesn't allow a reverse charge code to be set up.

At the moment I'm having to use the EU reverse charge code which is far from ideal. It really shouldn't be that difficult to set up a new one.

Thanks

Stephen 

is there any update on this or on the issue with how Revenue Commissioners in Ireland want Irish companies to report goods coming from UK on VAT return from 1st Jan 2021 (postponed VAT)

I have been asking this question since 2020 - now 2024 and still not sorted. I have wasted more hours online looking for help with this issue and the standard reply is to use the EU reverse rates. It seems they cannot see a difference between EU and domestic reverse rates. It was easy to set up new rates in Quickbooks desktop but the online version is a disaster.