Post Brexit VAT - how to enter a Bill for EU Services in Xero

[@khawajadanishaltaf1847]

Your Channels make other channels look stupid. This is how clearly things have been explained. Thank you so much!!

[@XUSolutions]

Glad you like them!

[@mubasherkhan493]

Hi. Really in-depth information. Would you please answer 1 question. What about the Reverse Charge for Non-VAT UK business sellers who are getting invoices from Amazon stating Reverse Charge. Do Non-VAT UK business sellers have to account this VAT in their revenue or to pay to HRMC or what to do,Amazon is not charging 20% VAT on invoices issued by its Luxembourg Office . Thanks

[@kennethjames9226]

Thank you. I had been searching for clear guidance and this fitted the bill!

[@happygoluckychappy]

Very helpful - thank you!

[@micahedwards1188]

Great informative video but I'm seeing this value added to box 4 In the vat return , but we are flat rate registered and box 4 should only include capital purchases over £2000 , am I missing something ?

[@SuperYkf]

Your explanations are so clear. Thank you.

[@XUSolutions]

You’re welcome

[@benthompson4641]

Amazing detail again! Are these rules still in place?

[@XUSolutions]

Yes, but some providers have now registered for VAT in the U.K. so will now be charging VAT. You will see a GB VAT number and a VAT amount. But if no VAT is charged this still applies.

[@khawajadanishaltaf1847]

Would you please teach what'll be the VAT on export of goods from UK? Import of Services : Tax Rate - Reverse Charge Expenses (20%) Export of Services : B2C : Supplier's location VAT rate. B2B : Supplier Zero Rates and Customer will reverse charge. Import of Goods : Tax Rate - Zero Rated. Export of Goods : Would you please explain ?

[@XUSolutions]

Maybe on another video soon

[@natalieg35]

Hello, thanks for the video! very helpful. I just received an invoice from Shopify (Dublin) and it says * As recipient you are liable to account for reverse charge VAT. Should I choose zero rated or reverse charge VAT?

[@XUSolutions]

Reverse charge

[@ali.s227]

Thanks for the video .Just want to confirm any sort of IT services from E.U to UK will be reversed charged@20% in Uk?

[@XUSolutions]

They should be but always check your invoice - a supplier might have a U.K. vat number and then you will see VAT charged

[@vanessajohn9582]

Brilliant video, very clear, thank you! I have a bill from Germany for materials, how do I account for the tax in Xero on this as opposed to services? Thank you!

[@kevingomm8886]

This was very helpful and I love your channel, quick dumb question, I have seen your video on the Flat Rate Scheme and adding everything as 'No VAT', do you do that for services which would have been Reverse Charge? So on FRS everything is treated as 'No VAT'?

[@lukroltd6419]

Thank you, great video!

[@XUSolutions]

Glad you liked it!

[@christinelarter6407]

Thank you for the great videos. What is the process for services into UK from ROW?

[@XUSolutions]

They will also be reverse charge

[@lauraburrows7711]

Thanks - this was hugely helpful

[@XUSolutions]

You're welcome!

[@toniluong9311]

Hi Marion, for invoices from LinkedIn, they have charged 20% VAT - can we reclaim the VAT? I have been told that we have to reverse charge this at our end even though there is VAT on the invoice? Please advise! Thanks

[@XUSolutions]

Check the invoice. Many items that were reverse charge have changed due to the status or location of the billing company. If there is a U.K. VAT number and a VAT charge of 20% then you can reclaim. If the VAT charged is non-U.K. (check the VAT number) then contact them and provide your VAT number. Charges should then revert to excluding VAT and you reverse charge.

[@toniluong9311]

@@XUSolutions LinkedIn are based in Dublin (LinkedIn Ireland Unlimited Company) and just checked the VAT number on the invoice: GB200445660. Does that sound like a UK VAT number? how would I check? Many Thanks!

[@XUSolutions]

@@toniluong9311 yes the GB determines that it's UK VAT. You can also do a check here www.vat-check.co.uk/verify/vat_check.php/VATNumber/GB200445660

[@toniluong9311]

@@XUSolutions Thanks so much Marion, that's really helpful. Can I ask if there is anything to support this like a link from the HMRC site or something similar. I am having this discussion amongst my peers who are as confused as I am!! much appreciate it.

[@XUSolutions]

@@toniluong9311 can you email me ([e-mail]) and I'll try to find something for you? It's easier for me than keeping track of youtube comments

[@nc7282]

Very helpful, many thanks

[@XUSolutions]

You're welcome!

[@StewysGameplay]

Hello, Can you help us with this problem? When we switched from paper to Xero in 2018 our book keeper created everything for us. When she input our bank balance she put it as a debit not a credit. On our balance sheet it’s now showing as a ‘historical adjustment’ and as a liability. I’ve contacted Xero but they haven’t offered any help with how to fix this. Simply changing it from debit to credit doesn’t work!

[@XUSolutions]

It’s hard to help with specific queries on a public forum like KZbin. But firstly I would check if your other conversion balances were correct and did they balance. I would also check that the conversion balance date was correct. If a debit balance was input it suggests that you had money in the bank - a credit balance would suggest you had an overdraft.

[@StewysGameplay]

@@XUSolutions I checked with Xero and they told me that when inputting the initial balance that debit was wrong and credit was the correct way to enter it as it was an addition. It’s now showing as a liability and trying to make an amendment isn’t working!

[@lukroltd6419]

@@StewysGameplay It is hard to say, without seeing it/log in to your accounts. XU Academy is correct. I think the problem might be that your bank statement was incorrectly imported to Xero, and probably you must delete these transactions and once again import it (in the correct way). But there is a couple of other things which you will need to check as well.

[@jigneshdarji3221]

Great, thank

[@XUSolutions]

You’re welcome