If you have a European Amazon seller account connected to Link My Books then you will notice that some of your settlements may be showing the status "Awaiting VAT"
This can be perfectly normal as the VAT data we require from Amazon is not yet available.
Why does Link My Books need the VAT data?
We need the VAT data to correctly group your sales revenue in order to ensure you account for the correct amount of VAT.
If we skip this step then you could end up accounting for 20% VAT on sales that should not incur VAT such as exports or sales where Amazon collected and remitted the VAT directly to HMRC.
When is the VAT data available from Amazon?
The data is usually available by either:
2-4 days after the end date of the settlement or;
the 5th of the following month
This depends on if you have the Amazon VAT Calculation Service turned on or not. If you do then the first option applies, otherwise the second option applies.
If after the 5th of the following month (after the end date of settlement) the settlement is still showing as awaiting VAT then please open a conversation with support via the blue chat icon on the bottom right of any page so we can resolve this for you.
What about split settlements?
When settlements span more than one month we split them into different parts to keep your monthly reporting correct.
This can mean that if you have a split settlement that part of it can be ready to send and part of it could still be awaiting VAT data.
If you have any questions about this article or feedback on how we could make it better please reach out to the support team via the blue chat icon on the bottom right of the page or via email to [email protected].