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Notification of Vehicle Arrival (NOVA) Vat Liability

Posted By PQhl 10 months ago

I have recently imported a vehicle to NI from EU, submitted the NOVA and have received word of a VAT liability.

What is my best way to account for this? Just add as an adjustment to Box 2 and Box 4 of the next VAT return, or are there journals I should be posting instead?

0 Andy Rickeard 10 months ago

Hi PQHL,

Thanks for using Community Hub.

I think the first step would be to determine how HMRC want the values to affect the VAT Return, if they can advise you of how to treat it then we should be able to determine the tax code that will have that effect.

This article is a good starting point for determining which tax code to use: Which tax code? >

Regards,

Andy
Sage UKI
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Sage 50 Accounts

Notification of Vehicle Arrival (NOVA) Vat Liability

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