VAT Reporting within WebTerrier

Date Posted: May 2024

VAT Reporting within WebTerrier

If you have leases where VAT is payable, this is simple to input into WebTerrier and can then be reported in many places throughout the system. On the Tenancy Record, the Lease tab has a subtab called Rent with the checkbox field "VAT Payable". Next to the checkbox will be the VAT rate if a VAT applicable country has been set, otherwise you'll be prompted to add/amend the country at the property level. You can easily jump to the Property record by clicking the link directly below the Lease tab.

Rent subtab with no VAT rate

In this screenshot England is being added as the country of the property, however "United Kingdom", "UK", "Wales" and "Scotland" will all result in the as of this blog post's VAT rate of 20% being applied.

Adding a country to Property Details

Now that the country has been entered the rate is shown on teh Rent subtab along with the country that was entered. Let's tick VAT Payable and see where that feeds through to within the system.

Ticking VAT payable with the VAT rate set

The Basic Details subtab now shows the VAT inclusive rent within brackets next to the VAT exempt rent.

Lease Basic details with VAT rent calculated

There are three VAT related columns available on Tenancies Search. The VAT Payable checkbox, Current Rent inc VAT and TCO (Total Cost of Occupancy) inc VAT. Note that cost amounts such as Insurance and Service Charge will need to entered inclusive of VAT.

VAT columns available on Tenancies Search

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