Are QuickBooks able to set up a new tax code with regards the domestic reverse VAT Charge for flat scheme users, invoices to contractors within the new scheme do not need to be accounted for under the FRS (so in essence outside the scope for VAT) but the information of the reverse charge still needs to be shown on the invoice so that the contractor accounts for the VAT in the normal way under the new rules, what is needed is a VAT Code for the reverse charge which will not include this transaction in the sub contractors VAT Reports but makes a note on the invoice of the amount of VAT under this new scheme. Hope that all makes sense?!!!!! Thank you.
