Region profile
UK VAT and EU VAT,
one profile.
Standard, reduced, and zero-rated UK bands with a nine-box return built for Making Tax Digital, plus per-country EU rates and reverse charge, in pounds or euros.
UK VAT, all three bands
Standard, reduced, zero-rated, on the right line.
UK VAT runs on a standard rate of 20%, a reduced rate of 5% for things like domestic fuel, and a zero rate for most food, children's clothing, and books. Some supplies are exempt and some are outside the scope entirely. Vinance puts the correct treatment on each line, shows your VAT registration number on every invoice, and keeps output tax out of your revenue where it belongs, in a VAT control account.
- Standard 20%, reduced 5%, and zero-rated bands per line
- Exempt and out-of-scope supplies handled distinctly
- Your VAT number and the required detail on every invoice
- Domestic reverse charge for construction, where it applies
INVOICE 3088
The UK standard rate is 20%, with 5% reduced and 0% zero-rated bands. Vinance puts the right band on each line and shows your VAT number on the document.
Making Tax Digital, in mind
A VAT return laid out the way HMRC asks for it.
HMRC's Making Tax Digital regime expects VAT-registered businesses to keep digital records and file through compatible software. Vinance keeps those digital records as a natural result of posting every taxed line to the ledger, and builds your nine-box VAT return live: VAT due on sales, VAT reclaimed on purchases, the net to pay, and the totals behind them. Each box drills down to the transactions that make it up, so you check the figures rather than reassemble them.
- The nine-box VAT return built straight from your ledger
- Digital records kept as you invoice and record bills
- Standard and cash accounting schemes both supported
- Every box drills to the transactions behind it
Trading across Europe
Cross-border VAT, without the guesswork.
Sell into the EU and the rules change with the border. Each member state sets its own standard rate, from Germany's 19% to Ireland's 23% and beyond, and business-to-business supplies of services often move under the reverse charge, where your customer accounts for the VAT instead of you. Vinance carries the reverse-charge treatment on the line, keeps zero-rated exports separate, and records the customer's VAT number so the paperwork holds up.
- Per-country EU standard, reduced, and zero rates
- Reverse charge on cross-border B2B services
- Zero-rated exports and dispatches captured separately
- Customer VAT numbers stored against their record
What the UK & Europe profile sets up
Pick your country, and this follows onto every document.
One choice configures the VAT bands, the currency, the return layout, and the records you need to keep.
Jurisdictions
The United Kingdom under HMRC, plus EU member states each with their own VAT authority and rates. Set the country you are registered in and add the markets you sell into.
Tax regime
Value Added Tax. UK standard 20%, reduced 5%, and zero-rated bands, per-country EU rates, plus exempt, out-of-scope, and reverse-charge treatments.
Currency
Pounds sterling or euros as your base, formatted the way each market expects (£1,234.56 or 1.234,56 EUR). Invoice cross-border customers in their currency while your books stay in one.
Tax reports
The UK nine-box VAT return ready to check and file, plus per-country EU VAT summaries and a reverse-charge breakdown, all built live from the ledger.
Compliance
Making Tax Digital in mind: digital VAT records kept as you post, cash and standard accounting schemes, and statements that follow UK and IFRS presentation conventions.
Language & format
UK English by default, DD/MM/YYYY dates, and the number and currency formatting each European market uses, throughout the app and on every document.
Frequently asked questions
What UK VAT rates does Vinance support?
The UK standard rate of 20%, the reduced rate of 5%, and the zero rate, plus exempt and out-of-scope supplies. Vinance puts the correct treatment on each line and keeps output VAT in a control account, out of your revenue.
Does Vinance work with Making Tax Digital?
Vinance keeps the digital VAT records Making Tax Digital expects as a natural result of posting each taxed line to the ledger, and builds your nine-box VAT return live. It is designed with MTD in mind; confirm your submission route with HMRC or your accountant.
Can Vinance handle EU VAT if I sell across borders?
Yes. Each EU member state sets its own rates, and Vinance carries per-country standard, reduced, and zero rates. Cross-border B2B services can move under the reverse charge, which Vinance applies on the line, keeping zero-rated exports separate and storing the customer's VAT number.
What is the reverse charge and does Vinance apply it?
Under the reverse charge, the customer accounts for the VAT rather than the supplier, common on cross-border B2B services and UK construction. Vinance marks the line as reverse charge, shows the required wording, and reports it separately on the return.
Can I invoice in euros while keeping books in pounds?
Yes. Set your base currency to pounds or euros and invoice cross-border customers in their currency. Vinance records both amounts, applies the daily rate, and revalues open balances at period end. See multi-currency & tax.
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