Yes, we have added a new tax code option so that businesses in the Construction Industry Scheme (CIS) can account for the VAT reverse charge. In this article we cover how to enable the Reverse Charge tax code in Pandle.
How do I enable the Reverse Charge tax code?
There are two ways to enable the VAT Reverse Charge in Pandle:
Set the Reverse Charge as your default setting
If you use this setting, the RC (Reverse Charge) VAT code option will be available for every invoice that you create.
To enable this setting, open the Pandle menu, and click 'Company Settings'.
Select the 'Financial Info' tab.
Then check the 'Does the business use Reverse Charge?' option, and click 'Update Company' to enable the setting.
Enable the Reverse Charge for individual customers or suppliers
To enable the reverse charge tax code on an individual basis please tick the 'Reverse Charge?’ box when creating a new customer or supplier, or by editing an existing one.
How do I enter a Reverse Charge for VAT on invoices?
Once enabled, the RC (Reverse Charge) tax code option will be available in the tax code dropdown selection menu:
Whilst entering invoices for that customer or supplier if you enable it for them specifically
For all customers and suppliers if you make it the default setting for your Pandle account.