I've had a complete mental block and I am hoping you can assist.
A software licence was purchased from a country outside the UK so there is no VAT on it. We will just say this is for £800.00. The same company who bought the software has sold this on for, say, £900.00 plus VAT so £180.00 in output VAT.
Should the sales invoice had been coded differently to T1, 20%?
Hi All,
I've had a complete mental block and I am hoping you can assist.
A software licence was purchased from a country outside the UK so there is no VAT on it. We will just say this is for £800.00. The same company who bought the software has sold this on for, say, £900.00 plus VAT so £180.00 in output VAT.
Should the sales invoice had been coded differently to T1, 20%?