Generate a VAT return in VT Transaction+/VT Cash Book
Before you can submit a VAT return, you need to have carried out the steps in Set up VAT.
To generate a VAT return:
1.In the file for the business, click on the VAT icon in the main toolbar:
In VT Transaction+:
In VT Cash Book:
2.Click on New VAT return:
3.Enter the VAT return dates and click on Continue, for example:
4.This displays an unsaved VAT return in a window with tabs that display the transactions that make up the figures in the return (Output VAT, Input VAT and Backup report).
•If some transactions are not yet entered, enter them now. The unsaved return will be automatically updated.
•If there are mistakes in a return, you can edit or delete a transaction by right-clicking on it in the unsaved return.
•If a transaction with no VAT on it that is outside the scope of VAT incorrectly appears in the return, right-click on it and choose Change Transaction To Outside The Scope Of VAT from the pop-up menu.
Click on the Save button.
5.The balance due on the return will be transferred to the Net VAT due account and the entries making up the return will be marked to prevent them falling into the next return. You only need to click on Yes to the message that follows if you want to display the Net VAT due account.
Note: the message You can then enter the payment of the VAT by clicking the red PAY or brown CHQ buttons near the top of the account window does not show in VT Cash Book, as this option is not available.
The return now appears in the list of saved returns in the VAT returns window:
6.Submit the VAT return as shown in Submitting a VAT return.
Other points
•Flat rate scheme. A flat rate VAT return cannot be submitted directly from VT's programs. For a workaround using VT Transaction+ and VT Report, see VAT flat rate scheme.
•VAT on pre-registration purchases. If you need to reclaim input VAT on purchases made before VAT registration, see Pre-VAT registration purchases.
•Old transactions appearing on current VAT return. The VAT return picks up all transactions within the scope of VAT that have not been included in a previous return. This includes any dated before the current return. These transactions appear in pink in the Output VAT and Input VAT tabs. If you need to exclude these older transactions from the return, delete the return, create a VAT return for the period covering these transactions (that you save but do not submit to HMRC), then create the current VAT return again. For more details see Old transactions appearing on current VAT return.
•Transactions not appearing on VAT return. This is likely due to having entered transactions after you saved the return. Delete the return, then re-run it and the transactions should be included. See Transactions do not appear on VAT return.
•Entering transactions after saving a VAT return. Transactions entered after a VAT return has been saved will not be included in the saved return. If you have saved a return and need to enter more transactions to be included in that return, delete the return, enter the transactions, then create the VAT return again.
•Correcting mistakes on a VAT return. See Correcting mistakes on VAT returns.
