From the first of January 2010 the HMRC are introducing new VAT rules; the changes will enable tax authorities to check that VAT is being accounted for correctly by businesses receiving intra-EU supplies of services (or recapitulative statements).
Those businesses affected will be:
Those businesses affected by the changes will need a Sage tax service pack, however it is also anticipated that some older releases of Sage Enterprise, CS3, Line 200 and Line 500 may require an upgrade. The tax service pack will be available from November 2009 and includes the following changes to be applied to the Sage versions detailed:
EC Sales List Changes
This will extend the EC Sales List report functionality to include designated services in a CSV output file format which can be bulk uploaded to HMRC.
If you are on an earlier version and require this element please let us know.
This will allow for references to be printed on the Sales Order invoices (for Telesales, Contract Management and Project Billing) when a VAT code has been nominated as either to be 'Zero', 'Exempt' or 'Reverse'.
Please contact Pinnacle Direct if you do require the Tax Service Pack and installation. We will be happy to work with you to plan the application of the service pack.