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Importer223
February 28, 2024
Question

Recording a DDP Import

  • February 28, 2024
  • 1 reply
  • 0 views

Hi,

Could you please advise on how to record a DDP Import in QuickBooks? 
We imported Goods and only pay NET value, as the supplier is paying for VAT import and duties.

HMRC has confirmed that these supplies have to be declared in the VAT return but only the NET amount.

Which tax category should we assign to the payments made to the supplier?

Thanks in advance for your help.

1 reply

A
Ashleigh1
February 28, 2024

Hello Importer223, welcome, and thanks for posting on the Community page, we are unable to advise what tax code/category to put it against, you can have a look at this article which has all the different tax codes, however, if you are still unsure we would advise you reach out and speak to a trained accountant who will be able to advise you on this. 

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