VAT Return report shown below is created from the transactions used in VAT Detail Report for EC Purchases.
Box 2 |
This box shows the notional amount generated by the purchase made using the EC Purchase VAT. |
Box 4 |
This box shows the notional amount generated by the purchase made using the EC Purchase VAT code, and the amount paid to the UK supplier on the Non-EC. |
Box 5 |
Box 5 = Box 3 less Box 4. These two boxes include the notional VAT amount from the EC Purchase transaction and cancel each other out leaving just real VAT. |
Box 7 |
This box shows the net amounts of all purchases regardless of VAT code. |
Box 9 |
This box shows the net amounts of purchases made using EC Purchase VAT codes. |
All calculations used to work out how much VAT you must pay (or reclaim), have the notional EC Purchase VAT amounts cancelling each other out.