Amendments to VAT on Prompt Payment Discounts for Microsoft Dynamics NAV 2015 - UK

This update enables NAV customers to adapt to the Amendment to VAT legislation on prompt payment discounts (PPD) to clearly align UK VAT legislation with EU VAT legislation.

Overview

This measure is aligning UK VAT legislation on PPDs with EU VAT legislation and ensuring VAT is accounted for on the full consideration paid. While currently businesses can issue invoices that give details of the amount of the prompt payment discount and its terms and show the VAT due calculated on the discounted price.

Important Notice to Customers

We recommend that you contact your Microsoft Dynamics Partner before installing service packs or hotfixes. It is important to verify that your environment is compatible with the service pack(s), hotfix(es), or download(s) being installed. A service pack, hotfix, or download may cause interoperability issues with customizations, and third-party products that work with your Microsoft Dynamics solution.

Downloads

ReleaseNoteGBAmdmtVATpromptpaymentdisNAV2015 [DOCX - 18 KB]

Support Information

For technical support questions, contact your partner or direct your questions to the Support for Business hub: https://serviceshub.microsoft.com/supportforbusiness/create