We are importing a large value of goods from outside the EU and I am struggling to find out when we should include the value of the import in Box 7. We have already received the invoice from the supplier which has been entered and therefore appearing in Box 7, VAT quarter ending 30 November 2014, but the goods and associated C79 will not be received until next month and therefore the input VAT will not appear until next quarter and will make the current and next VAT return look extremely odd.
I am really struggling to find the answer to this in HMRC import/VAT guidance and would be grateful if anyone can point me in the right direction.
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Interesting one
I've not actually come across this but would suggest that it's the payment of the Import VAT that generates the entry in box 7 and so, if it were me I'd enter the bill dated next month or, depending on your software, remove the bill, run & submit the VAT return, then enter the bill afterwards to be picked up on the next return?