Open topic with navigation

Prepare the VAT Return

There are three stages to completing a VAT Return.

1. Establish your current VAT position.

   You can view and print the VAT Return at any time during a VAT period. This shows you your VAT liability.

   We recommend that you do this on a regular basis. Doing this will allow you to keep control of your cash flow. You can also identify any transactions that have been incorrectly posted.

2. Reconcile the VAT Return.

   Before producing your final VAT Return for the period, we recommend that you check the transactions on the VAT Return with the transactions in the Sales, Nominal and Purchase Ledgers.

3. Produce the final VAT Return.

   This submits the final VAT Return for the period. You can only do this once for a VAT period. You can:

   • Print and send the paper copy of the VAT Return to the relevant tax authorities.
   • Submit the VAT Return online. You can send the VAT Return directly to the HMRC via the HMRC online services (UK). If you are based in Ireland, you can send it to the Irish Revenue via your ROS (Revenue On-line Service) account.

Once you produce the VAT Return, each transaction is marked as reconciled. These transactions cannot be included in any subsequent VAT Returns. Once run the process cannot be reversed.

Note: The Sage 200 VAT Analysis routine does not support cash accounting.

Go to top