This screen is used to show what the Duty and VAT estimated amounts would be for the chosen Stock items. Info |
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You must enter the Customer Code to use this screen in the Search Criteria |
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The calculation is based solely on the items you pick and their respective quantities, however when the end of day final W5 or W5D is calculated there may be a slight difference, and you may find the overall amount to be lower than the amount shown on this report. The end of day calculation sums up all transactions within the same TAX CODE and then truncates the LITRES figure to two decimal places, this is then multiplied by the HMRC Rate to give a final value. Due to the truncation, the total value is always lower than the individual single item values. This is the approved and correct method as per HMRC requirements. Changes to Product Values Changes to values of products including changes to exchange rates will potentially affect the final value on the W5D. The D&V enquiry at this point is only a guide to the duty at that particular point in time. |
Changes to Product Values - Duty Deferrred Orders Changes to values of products including changes to exchange rates will potentially affect the final value on the W5D. The D&V enquiry at this point is only a guide to the duty at that particular point in time. Tip |
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ACQ VAT is the same as PVA VAT If the customer who imported it is paying the duty (Vat numbers agree between customer and deferment) then this VAT is for statistical purposes only and is not charged to the deferment. |
Outstanding Despatches - this will open a new window, which you are able to add them to the Duty/VAT enquiry screen. You are to send the results to an email address by entering the Email Address and clicking on Send Email button You will need to enter the Product Code, Rotation Number Need to enter the value in either Pallets, Cases or Singles to display the Duty/VAT amounts. VAT Status D - Deferred VAT - When the VAT will have to be paid within a certain time frame P - Postponed VAT Accounting N - Nil Supply - No VAT is applicable to this Stock
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ACQ/PVA VAT Criteria - Stock has to have come in from the EU but outside of GB, the Customer must be VAT Registered, the Owner of the Stock cannot have changed in the UK, finally, the Excise Deferment being used must be owned by the Customer who the Stock is being landed for. Stock is imported into the UK, where the importer/customer is VAT Registered, remains the Owner of the Stock, the Excise Deferment VAT number must agree to the stock account VAT number |
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