How do OSS/IOSS transactions affect my VAT Return? - UK

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:

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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Solution Properties

Solution ID
210520072901063
Last Modified Date
Wed Mar 23 14:31:55 UTC 2022
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