Taxation (Accounts Without SuiteTax)

The following table describes taxation features in United Kingdom:

Feature	Description	Prerequisites
United Kingdom Tax Codes Creating Tax Codes - United Kingdom	Provides a list of tax codes that are needed to calculate VAT on transaction records, and to generate VAT reports.	Enable the accounting features that you want to use. For more details, see Enabling and Setting Up Taxation Features. Install International Tax Reports (see Installing and Setting Up International Tax Reports)
Automatic Tax Code Provisioning	A feature of the International Tax Reports SuiteApp that automatically creates nexus and VAT/GST tax codes when you add a new subsidiary country.
VAT preferences for the United Kingdom	For more information, see Setting Tax Preferences Setting Tax Rounding Levels, Methods, and Precision Settings
United Kingdom VAT100 Tax Report What goes into each box – United Kingdom VAT100 report	Provides information on how to generate the United Kingdom VAT report in English and how NetSuite uses the tax codes to get the values for the United Kingdom VAT Return.
Setting Up Tax Filing for United Kingdom	Using NetSuite, United Kingdom VAT-registered companies can submit VAT100 and EU Sales List (ESL) reports online to His Majesty's Revenue and Customs (HMRC).
Making Tax Digital	The MTD for VAT feature enables you to digitally record, generate and submit the United Kingdom VAT100 Return from HMRC through the VAT (MTD) API.
Sales and Purchase Reports Grouped by Tax Code	Customizable saved reports that can be used in United Kingdom to reconcile your VAT return.
EU Sales List for United Kingdom	Provides information on how to generate the EU Sales List (ESL) report - this report prints EU sales for both services and goods. The EU sales list can be exported in the following formats PDF Excel CSV file that complies with the format required by the United Kingdom tax agency (HMRC) direct online submission
Intrastat Report for United Kingdom	Provides information about the Intrastat report for Arrivals and Dispatches The Intrastat report can be exported in the following formats PDF Excel CSV file that complies with the format required by the United Kingdom tax agency (HMRC)
Reverse Charge VAT	Provides information about the reverse charges on goods and services. For more information about configuration, see Setting Up Tax Codes to Post Notional Tax Amounts and Applying the Notional Tax Posting Feature to Transactions and Subsidiaries.	Install International Tax Reports (see Installing and Setting Up International Tax Reports) and Supplementary Tax Calculation
Recording Nondeductible Input Tax	Enables to apply nondeductible or partially deductible tax on vendor bills, checks, and vendor bill credits in NetSuite. For more information, see Setting Up Nondeductible Input Tax.
Recording VAT on Prompt Payment Discounts on Sales Invoices for United Kingdom Recording VAT on Prompt Payment Discounts on Purchases for United Kingdom	Changes to United Kingdom legislation on prompt payment discounts require VAT to be charged on the full invoice price for supplies made on or after April 1, 2015.
EU One Stop Shop (OSS)	Automatically provisions OSS tax codes when you assign an OSS nexus to a subsidiary in NetSuite OneWorld.	Install International Tax Reports (see Installing and Setting Up International Tax Reports)
OSS Tax Code Provisioning for Regular NetSuite Accounts	Automatically provisions OSS tax codes for non-OneWorld NetSuite accounts.
Tax Audit Files	The file enables tax payers to provide their electronic records to tax auditors in support of their tax returns, and for auditors to review accounting records.	Install International Tax Reports (see Installing and Setting Up International Tax Reports) and Tax Audit Files (see Installing the Tax Audit Files SuiteApp)

Feature

Description

Prerequisites

United Kingdom Tax Codes

Creating Tax Codes - United Kingdom

Provides a list of tax codes that are needed to calculate VAT on transaction records, and to generate VAT reports.

Enable the accounting features that you want to use. For more details, see Enabling and Setting Up Taxation Features.

Install International Tax Reports (see Installing and Setting Up International Tax Reports)

Automatic Tax Code Provisioning

A feature of the International Tax Reports SuiteApp that automatically creates nexus and VAT/GST tax codes when you add a new subsidiary country.

VAT preferences for the United Kingdom

For more information, see

United Kingdom VAT100 Tax Report

What goes into each box – United Kingdom VAT100 report

Provides information on how to generate the United Kingdom VAT report in English and how NetSuite uses the tax codes to get the values for the United Kingdom VAT Return.

Setting Up Tax Filing for United Kingdom

Using NetSuite, United Kingdom VAT-registered companies can submit VAT100 and EU Sales List (ESL) reports online to His Majesty's Revenue and Customs (HMRC).

Making Tax Digital

The MTD for VAT feature enables you to digitally record, generate and submit the United Kingdom VAT100 Return from HMRC through the VAT (MTD) API.

Sales and Purchase Reports Grouped by Tax Code

Customizable saved reports that can be used in United Kingdom to reconcile your VAT return.

EU Sales List for United Kingdom

Provides information on how to generate the EU Sales List (ESL) report - this report prints EU sales for both services and goods. The EU sales list can be exported in the following formats

PDF
Excel
CSV file that complies with the format required by the United Kingdom tax agency (HMRC)
direct online submission

Intrastat Report for United Kingdom

Provides information about the Intrastat report for Arrivals and Dispatches

The Intrastat report can be exported in the following formats

PDF
Excel
CSV file that complies with the format required by the United Kingdom tax agency (HMRC)

Reverse Charge VAT

Provides information about the reverse charges on goods and services. For more information about configuration, see Setting Up Tax Codes to Post Notional Tax Amounts and Applying the Notional Tax Posting Feature to Transactions and Subsidiaries.

Install International Tax Reports (see Installing and Setting Up International Tax Reports) and Supplementary Tax Calculation

Recording Nondeductible Input Tax

Enables to apply nondeductible or partially deductible tax on vendor bills, checks, and vendor bill credits in NetSuite. For more information, see Setting Up Nondeductible Input Tax.

Recording VAT on Prompt Payment Discounts on Sales Invoices for United Kingdom

Recording VAT on Prompt Payment Discounts on Purchases for United Kingdom

Changes to United Kingdom legislation on prompt payment discounts require VAT to be charged on the full invoice price for supplies made on or after April 1, 2015.

EU One Stop Shop (OSS)

Automatically provisions OSS tax codes when you assign an OSS nexus to a subsidiary in NetSuite OneWorld.

Install International Tax Reports (see Installing and Setting Up International Tax Reports)

OSS Tax Code Provisioning for Regular NetSuite Accounts

Automatically provisions OSS tax codes for non-OneWorld NetSuite accounts.

Tax Audit Files

The file enables tax payers to provide their electronic records to tax auditors in support of their tax returns, and for auditors to review accounting records.

Install International Tax Reports (see Installing and Setting Up International Tax Reports) and Tax Audit Files (see Installing the Tax Audit Files SuiteApp)

General Notices