amendment to VAT legislation on prompt payment discounts (PPD)

[Former Member]

The VAT legislation on prompt payment discount changes on the 1st April. Is anyone else using ByDesign affected by this change and if so are you aware of the hotfix that SAP have created?  We are being advised by our Business Partners that they will implement the fine tuning to this Hot fix on the 1st April but we are nervous about leaving it until this date without testing as the change has many implicationations!

[Former Member]

Hi Liona,

Kindly refer to the case document < 2141146 - Legal Change Effective April 1 2015 - Prompt Payment Discount VAT Regulation - Great Britain.

Thanks

Lokesh Sharma

[Former Member]

Hi Lokesh,

Thanks for that. We have read through that document but still a bit concerned about how this fix will work. We tested it last night and can see that the accounting for VAT is correct but the invoicing apparently isn't as it shows VAT calculated after PPD. We have logged it again with the help desk now we have more information.

Thanks for your help