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July 2, 2019
Question

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?

  • July 2, 2019
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1 reply

July 2, 2019

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.