Re: UK VAT Invoice

[Mike Ozanne <mozanne@xxxxxxxxxxxxxxxxxxxxxxxxx>]

At 10:39 26/02/04 -0500, you wrote:
> Greetings,
>
> We are an US company doing business direct with GB and recently registered 
> and received our VAT#. According to the VAT and Customs Advisory Group 
> that we have been dealing with, for each description of the goods we must 
> show the rate of VAT and  total amount of VAT charged shown in sterling 
> amongst other requirements. Fortunately we have only one rate. Would I 
> just simply setup a tax code called VAT and tie it to the item(s)/customer 
> sold abroad?

Are you importing the goods into unbonded stock? If so VAT and duty will 
need paying when the goods clear the port. In which case you will need a 
process which works off a vendor receipt. i.e Vendor code and Item code 
linked to a tax rate, as well as Customer and Item codes linked to a rate 
for the sale. Don't forget to include a rate for import duty as well as 
VAT. If you are importing and stocking goods look into setting up a Customs 
bonded warehouse, this will save you a ton of money.

If you are shipping direct to customers without stocking the goods then you 
don't need to do anything, its the recipients responsibility.