How does bullets handle the vat

How does bullets handle the vat – Free Online Small Business Accounting Software Questions & Answers

I am a small one man band LTD company and have been playing around with bullet today and i really like the system but have a question regarding EU Purschases and sales
I buy some products from the EU and UK without vat and we also sell some products to vat registered companies in the UK and EU and are wondering can bullet handle these transactions with 0 rated vat and have the numbers correct in the vat return

Can bullet also handle the yearly Vat RTD returns
Many thanks

  1. Peter Connor March 30, 2015
    Hi Mark,

    I'll get John to add a comment on the Zero VAT purchases.

    We had looked at building the RTD return and indeed had completed about 60% of it, but we decided not to go any furture with it because most people don't do the return, just ignore it.

    So there wasn't a big enough market for it.

    I'll get Johnny to answer your other question.



3 answers

john_bullet Staff March 30, 2015

Hi Mark,
Bullet doesn’t currently support the VAT MOSS scheme for EU purchases/sales if that’s what your asking.  It is something we’re looking into.

#answer-1495 March 31, 2015

Hi John 
Thanks for the reply , I am not talking about the Vat moss scheme 
I am asking about general EU purschases and sales , So for example a business in Dundalk buys products or services from Newry and needs to account for the transaction on the vat return , They could also sell a service or product to the UK or NI 
Kind RGDs Mark 

richie April 24, 2015

I am in the same boat, I purchase a lot of stock across the border and pay some fees. I pay 0% vat, but it still needs to be accounted for in the VAT Return for EU VAT sales.

Perhaps an option in the dropdown menu for VAT rates  on invoices needs to be added, for example “0% Intra-EU sale” as well as the plain ‘0% VAT”option. It would allow for the separation of the two maybe.

  1. Peter Connor April 27, 2015
    Hi Richie,

    I'm afraid it's not as simple as that. It's a whole new report and we need to add fields into the Bills section.

    We're keeping an eye on it.


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