Help On VAT Return - Flat Rate Scheme

Discussion in 'Accounts & Finance' started by J_33, Jul 22, 2021.

  1. J_33

    J_33 UKBF Newcomer

    2 0
    Hi

    I run a business that is VAt registered and on the Flat Rate Scheme that imports from the EU by postage. Because of brexit it is the courriers job to pay the VAT on our behalf and then charge us back together with their fees.
    The problem is that they are taking ages to send us the invoices with the taxes to pay. So far since April in 6 parcels I have only received 2 invoices to pay. This means that I have only payed the VAT on 2 invoices and I`m still waiting for the other 4 to come...

    My question is what should I put in box 2 of my VAT Return? ZERO?
    I know I haven`t paid the import VAT on some comercial invoices yet but the thing is that they can come at any moment because the courriers have already cleared the goods from the customs.
    I have been in contact with the courriers regarding this matter but they say there is a delay of several weeks for them to process all the paperwork


    Thanks for the help in advance
     
    Posted: Jul 22, 2021 By: J_33 Member since: Jul 22, 2021
    #1
  2. lesvatadvice

    lesvatadvice Contributor

    843 139
    Box 2 of your VAT Return must be zero, unless you are based in Northern Ireland.
    Do check whether the FRS is best for you. My rule-of-thumb is to avoid the FRS if you are involved in cross-border transactions. I suggest you review this year's VAT returns using FRS and conventional VAT calculations.
     
    Posted: Jul 23, 2021 By: lesvatadvice Member since: Jul 7, 2011
    #2
    • Thanks Thanks x 1
  3. J_33

    J_33 UKBF Newcomer

    2 0

    Thank you so much for your reply. ;)


    I appreciate your suggestion, I`m defenitely going to conventional VAt rather than FRS.
     
    Posted: Jul 23, 2021 By: J_33 Member since: Jul 22, 2021
    #3