Legal Reporting Unit Tax Profile Registration

You must set the Legal Reporting Unit tax profile as Self Assessment so that the tax is calculated correctly for UK Reverse Charges. Register the Legal Reporting Unit tax profile for Self Assessment on the Tax Registration page.

Follow these steps:

1. Navigate to Setup and Maintenance and click Manage Party Tax Profiles.
2. Search for the Legal Reporting Unit Tax Profiles.

3. Search and select the specific Legal Reporting Unit value that corresponds to the Legal Entity used on Receivables invoices for which self-assessed tax is to be applied.

4. Review the Tax Registrations tab on the existing Legal Reporting Unit Tax Profile selected. Create a tax registration for your UK tax regime if you have not done so already.

5. After defining the tax registration record, place your cursor on the Tax Regime Code for which self-assessed tax you want to use. Then, select View Registration Details.

6. In the Edit Tax Registration page, enable the Set as self-assessment (reverse charge) check box to confirm your selection.

7. Click OK.