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.
How do I enable the Reverse Charge tax code?
To help minimise the risk of accidental errors, the reverse charge tax code in Pandle needs to be enabled for each specific customer or supplier.
To enable the reverse charge tax code, 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.