What should be included in EC sales list?
What should be included in EC sales list?
How to complete an EC Sales List
- their 2 letter country code.
- their VAT registration number.
- the value of the goods and related costs – entering code ‘0’ (zero) in the indicator column – even if you have not invoiced them or been paid yet.
Does EC sales list still need to be submitted?
For the export of goods or the supply of services made to EU businesses on or after 1 January 2021, you will not need to submit an EC Sales List (ESL) . You will have until 21 January 2021 to submit ESLs for sales made before 1 January 2021.
How do I fill out an EC Sales List?
Completing a EC Sales List
- Your name and trading address.
- Your nine-digit VAT registration number.
- Period reference – for example 03 13.
- Period for goods / service from and to – these are the months and years for the period you are reporting.
- Branch/subsidiary identifier can be left blank unless you have been issued one.
Is there a penalty for late filing of EC Sales List?
Failure to submit an EC sales list (ESL) by the due date can give rise to a civil penalty at a daily rate. If an ESL is not submitted by the due date, HMRC may issue a notice. If the ESL is not submitted within a further 14 days, then a penalty will be due.
Why have an EC Sales List?
EC Sales Lists are used when reporting the VAT on sales to the EU. The EC Sales List contains information on sales and transfers of goods and services to VAT registered companies in other EU countries, with EC standing for European Commission. The EC Sales List (ESL) is therefore usually filed monthly or quarterly.
What are zero rated EC services?
Zero-rated means that the goods are still VAT -taxable but the rate of VAT you must charge your customers is 0%. You still have to record them in your VAT accounts and report them on your VAT Return.
What is the difference between EC sales List and Intrastat?
Intrastat is a statistical return and EC Sales list is a tax return. Intrastat is sent to customs and statistical authorities whereas EC Sales is submitted in the portal of your usual tax returns. Services: Intrastat does not include the supplies of services to other EU countries, while the EC sales list does.
Do you charge VAT on EC sales?
If you sell, send or transfer goods out of the UK you do not normally need to charge VAT on them. You can zero rate most exports from: Great Britain to any destination outside the UK. Northern Ireland to a destination outside the UK and EU.
Do services go on EC sales list?
If you’re sending goods to the EU, you only have to report with an EC Sales List if the receiving businesses are VAT registered. All sales of services to other businesses in the EU however, whether the business is VAT registered or not, must be reported on an EC Sales List.
What is the difference between EC Sales List and Intrastat?
Are sales to EU now zero rated?
VAT registered UK businesses continue to be able to zero-rate sales of goods to EU businesses. EU member states treat goods entering the EU from the UK in the same way as goods entering from other non-EU countries. From 1 January 2021, this facility is no longer available, but all such sales are zero rated exports.
What is EC sales list used for?
EC Sales Lists are used when reporting the VAT on sales to the EU. The EC Sales List contains information on sales and transfers of goods and services to VAT registered companies in other EU countries, with EC standing for European Commission. EC Sales are reported by the calendar period and done on an accrual basis.
When do you need to complete an EC Sales List?
When to complete an EC Sales List. You’ll need to complete an EC Sales List if you’ve: If you have not supplied goods or services to VAT-registered customers in another EU country (or issued any credit notes) you do not need to complete an EC Sales List.
How to Complete EC Sales list using HMRC online?
How to complete your EC Sales List using the online form. If you submit your ESL online you must do so within 21 days of the end of the reporting period. You must register and enrol for HMRC online services. When you’ve registered and enrolled, sign in to EC Sales List using your user ID and password.
How to report EU sales made on or before 31 December 2020?
Find out how to report supplies of goods and services to VAT-registered customers in an EU country using an EC Sales List. This guidance only applies to goods and services sold to the EU from the UK up to and including 31 December 2020. You can still use it to find out what you needed to do up to that date.
Is there a new version of the vat101 form?
A new version of the VAT101 form is available and information about when to use it has been updated. Information about recording call-off stock information using the Electronic EC Sales List (VAT101) has been added. The English and Welsh versions of the VAT101 notes have been updated and the postal address for sending the form has been updated.