MyCake: better VAT report
When you purchase services (as opposed to goods) from suppliers in other EC countries, you need to report this on your VAT return using what HMRC call a “reverse charge”. It makes no difference to the actual amount you pay HMRC.
Within MyCake book-keeping, when you run a VAT report now, there is a new button at the bottom labelled Download Calculations. This gives you a spreadsheet detailing how the VAT return figures were calculated and now includes a section specifically for listing the reverse charge items.
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