Summary
In Sage 50 Accounts, when you post a transaction with a One Stop Shop or Import One Stop Shop (OSS/IOSS) tax code, it may or may not affect your VAT Return depending on the reporting type and whether it's for goods or services.
Description
When you post a transaction with an OSS/IOSS tax code, how it affects your VAT Return depends on two factors:
- Whether the tax code is set up for OSS/IOSS goods or services.
- The reporting type you select when you post the transaction.
Resolution
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Standard VAT and Vat Cash Accounting
The table below gives details of how your VAT Return is affected when using either Standard or Cash Accounting VAT schemes:
Report type | Effect on VAT Return | |
Goods | Services | |
Union OSS | NET: Boxes 6 and 8 | NET: Box 6 |
Non-union OSS | No impact | NET: Box 6 |
IOSS | NET: Box 6 | No impact |
Flat Rate VAT schemes
The table below gives details of how your VAT Return is affected when using a Flat Rate VAT scheme:
Report type | Effect on VAT Return | |
Goods | Services | |
Union OSS | No impact | No impact |
Non-union OSS | No impact | No impact |
IOSS | NET: Box 6 | No impact |
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