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VAT Domestic Reverse Charge

VAT Domestic Reverse Charge coming into effect from 1st March 2021, would be nice to have an easy way to deal with this for purchases and invoices.

For example, a simple tick box option to apply domestic reverse charges to a purchase that would remove the VAT value from the total amount due, whilst also adding the VAT figure to boxes 1 and 4 on the VAT return (along with the NET value to box 7 as normal).

Also being able to use a specified tax point to determine the VAT return period, so it can be used alongside cash accounting without using the payment date.

Something similar for customer invoices too please - display the amount of VAT being reverse charged without adding to the total amount payable, and no VAT added to the return (only NET figure in box 6).

Wrote this in a rush, hopefully it makes sense.

  • Guest
  • Feb 3 2021
  • Released
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  • Guest commented
    21 May, 2021 08:46am

    I have set the reverse charge on certain customers which shows on the invoice, however, it is not showing on the vat return.

  • Martin Ives commented
    12 Feb, 2021 10:27am

    anymore news on this, not unreasonaly clients are wanting to know how to do this within Kashflow as its now just 2 weeks away

  • Admin
    KashFlow Product Team commented
    11 Feb, 2021 01:10pm

    You will be pleased to hear that we are actively working on making KashFlow compliant with the new CIS VAT Reverse Charge rules and we plan to release this in time for 1 March 2021.