How to add a UK 20 VAT Rate

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I have some UK based suppliers and I get invoices with UK 20 VAT Rate. Can I add such a rate to my account or can I edit the invoice’s VAT amount to reflect the VAT amount ?

Thanks

Richie

1 answer

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Peter Connor ⋅ Staff March 10, 2014
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Hi Richie,
Bullet is currently configured for the Irish Tax system. We will be launching our international product at the end of April.
Are you a UK company?
Pete

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  1. richiebowden March 10, 2014
    Thanks Pete. We're an irish company and generally shouldn't have to pay 20% UK VAT, but sometimes we find that we're charged and end up paying.
  2. Peter Connor March 10, 2014
    Hi Richie,

    Technically you should always be paying VAT somewhere. If you pay UK Vat I think you can claim it back. Here is some information on citizens information http://www.citizensinformation.ie/en/money_and_tax/tax/duties_and_vat/value_added_tax.html or your accountant might have a better idea.

    Let me know and we'll give a full answer here so people can learn from it.

    Pete
  3. whitepi April 2, 2014
    Pete,

    Just to add to this converation we find the same. If we buy something in the Uk and it lands in ireland assuming we provide our vat rate we shouldnt be charged vat. However, we do have to pay it in reverse charge and it seems bullet doesnt allow this at present.

    Also if you do happen to be charged vat or if your goods stay in the uk you have to be charged vat - so the irish system needs to be able to calculate vat surely so you can split out the vat and net cost?
  4. Peter Connor April 3, 2014
    Just on your query about being charged non-EU VAT - you don't record it in the Bullet system, since it can't be reclaimed through the VAT3 revenue returns system. The electronic vat refund (EVR) system on ROS can take a bit of time, and a little unpredictable (the Irish Revenue commissioners apply to the other country to get the refund) - your mileage may vary a bit with it!

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