Product Updates 422, 421, and 420: Changes to UK VAT return 2021 (UK legislation)
Effective April 8, 2021, the descriptions for some VAT boxes
will be changed for the VAT return form. This enhancement is implemented to
support the transition period of Northern Ireland’s dual position in the United
Kingdom (UK) and European Union (EU).
The following are the changes that have been made in Exact
Globe Next.
The descriptions for boxes 2, 4, 8, and 9 have been changed
as follows:
|
Box
|
Old description
|
New description
|
|
2
|
Vat Due from
other EC Member states
|
Vat Due made
in XI from other EC Members
|
|
4
|
Vat Reclaimed
On Purchase (incl. EC)
|
Vat Reclaimed
On Purchase (incl. XI from EC Members)
|
|
8
|
Value of
supplies to Other EC Members
|
Value of
supplies from XI to Other EC Members
|
|
9
|
Acquisitions
from within EC
|
Acquisitions
made in XI from EC Members
|
The following are the boxes with the new descriptions in the VAT return form:
For more information, see Product Updates 422, 421, and
420: Recording intra-EU transactions for Northern Ireland post Brexit (European
Union legislation).
| Main Category: |
Attachments & notes |
Document Type: |
Release notes detail |
| Category: |
|
Security level: |
All - 0 |
| Sub category: |
|
Document ID: |
30.005.651 |
| Assortment: |
Exact Globe
|
Date: |
05-04-2021 |
| Release: |
|
Attachment: |
|
| Disclaimer |