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usermaeve-omalley
February 9, 2021
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Is it possible to set up a reverse charging VAT code using Irish VAT rates?

  • February 9, 2021
  • 11 replies
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Best answer by payment after leaving

Hi MaryJoyD,

Thank you for your response, unfortunately this does not seem to allow me to set up a reverse charges option.

I have been able to set up the other Irish rates fine but not a reverse charges basis.

Thanks,

Maeve


Hi usermaeve-omalley If you would like to create a reverse charge VAT code you'd have use the Group rate function, this can be located by selecting Taxes > Add tax > Group rate. This will enable you to select two codes that will populate in the correct boxes, effectively netting/cancelling the other out, you may have to create the two codes first.

11 replies

EmmaM
February 9, 2021

Hello Usermaeve-Omalley, Are you using the UK or Irish product?

usermaeve-omalleyAuthor
February 9, 2021

Hi, we are using a UK version, didnt know there was an Irish one.

MJoy_D
MJoy_D
February 9, 2021

Thank you for the response, @usermaeve-omalley.

 

I can provide information on setting up the reverse charge VAT code. 

 

Yes, we have QuickBooks Online (QBO) for Ireland. You can go to the following link and then click on Ireland to create an account: Choose your country.

 

When you set up VAT, QBO will automatically set up a list of common VAT codes for you like the reverse charge VAT code for products and services. You can go to the VAT Centre to set this up.

 

Here's how:

  1. Go to the Taxes menu and then select Set up VAT.
  2. On the Set up VAT page, provide all the information needed.
  3. Select Save.

Check this article for more information on how to manage your VAT process, edit your VAT settings, codes and rates, and add additional tax rates, group rates, or custom tax: Set up and edit VAT settings, VAT codes, and VAT rates.

 

You can also refer to the following article about the common VAT codes and how to create a new VAT code.

 

I'm always here if you need more help with your vat codes. Let me know in the reply section below. Keep safe and enjoy the rest of the day!

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