webERP Forum

Full Version: UK VAT Setup for Buying and Export
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Hi,

Sorry for posting multiple questions on the forum.

I am trying to understand how the tax setup would work for below business type.

1. I buy goods from UK/EU for which I pay VAT.
(When I buy in UK, I pay 20%, but when I buy from EU countries, I pay the VAT in UK while filing return, and claim it back in same return, effectively netting it off)

2. I sell same goods outside UK/EU, for which I don't collect VAT.

When I have to file VAT return, I need to be able to see what all purchases I paid VAT and get a report to claim total amount back.

Any help would be very useful...

Thanks in advance
GJ
Reference URL's