Re: UK VAT Invoice -- BPCS-L

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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.

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