I have searched all over but can’t seem to find the answer. I am VAT registered and have an EORI number. I import goods from around the world. Under the new PVA scheme, it means when I import goods or pay a deposit for manufacture, the cost is outside the scope of VAT. Upon receiving the goods, I get a VAT invoice which is 100% VAT.
In Crunch there seems to be no way of recording this ? If I have a VAT bill of £1,000 I would need to show that £1,000 in boxes 1 and 4 on the VAT return to evidence that there has been a charge and reclaim of the entire value resulting in a net £0 overall charge.
How can this be handled in Crunch without falsifying my expenses ? I can’t be the only person who deals with imports and uses Postponed VAT Accounting ?