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Postponed VAT Statement from HMRC

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Hi

I am using the PVA accounting method on imports into the UK therefore I recover the import VAT on my VAT return rather than paying it upfront. My question is from my monthly HMRC statement (C79 form) that details the VAT figures how do I input this through quickbooks online? thanks

QuickBooks Online

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EmmaMAnswer

Hello Sonz, The code you use on the transaction would then relate to the boxes that hits in the return, HMRC have a guide set up on how to complete the return to account for the imported VAT here. Any questions let us know

M

mv32

Hi @Sonz.

You can find the PVA Import VAT codes in the VAT rate settings in QuickBooks. Let's show the inactive VAT codes to see this.

Here's how:

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

You can check the Brexit FAQ for reference about these changes and get answers to some VAT questions.

On the other hand, to give you more details about the different VAT codes that are available in the system, please scan through this link: Common VAT Codes.

Know that the Community got you covered if there's anything else you need about setting up taxes or anything. Have a lovely day!

S

SonzAuthor

Can someone please help!

I have received the monthly postponed import VAT statement from HMRC but how do I post this VAT transaction through quickbooks? I am not asking about setting up VAT codes. How do you record this?

thank you

E

EmmaMAnswer

Hello Sonz, The code you use on the transaction would then relate to the boxes that hits in the return, HMRC have a guide set up on how to complete the return to account for the imported VAT here. Any questions let us know

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