As a Group Manager, you can now select actions that Group Members can perform on their profiles, which will be covered by the Group's VAT liability.
With the new functionality, the Group Members may use the Group Managers’ VAT number, thus for the selected actions, instead of being charged VAT, reverse charge rules will apply.
The new functionality is accessed when logged in as the Group Manager via:
My Details -> Group Administration ->Settings and then select the VAT Customer Tab as below.
Furthermore, a Group Manager can select the actions which will be covered by the Group VAT Liability by using the checkboxes and clicking save at the foot of the page.
If not selected, the default VAT rules will be applied.
The actions for this feature are made available for selection to the Group Manager by Finance Admin based on the VAT Country the Group is in.
Group VAT Value - Added Examples
Example A:
In this example, the Group Manager has No VAT number.
If you have 100 credits then you will have a total of £15.97 VAT withheld and will have the remaining 84.03 net amount left. You will keep a total of 84.03 net amount and remits a total amount of 15.97 net amount to the government.
Example B:
In this example, the Group Manager has a valid VAT number.
If you have 100 credits then you will have a total of 0% VAT withheld and will have the remaining 100 net amount left. You will keep a total of 100 net amount.