VAT Return on Cash Basis

Overview

Irish VAT Return

VAT on Sales: “VAT on Sales” is the total VAT Amount on Sales Transactions (Sales Invoices, Sales Credit Notes, and Non-Customer Payments etc) including Other EU Sales. This is being indicated as T1. 

VAT on Purchase: “VAT on Purchases” is the total VAT Amount on Purchase Transactions

(Purchase Invoices, Purchase Credit Notes, and Non-Supplier Payments etc); this is being indicated as T2. 

 

Net Payable:  Net Payable”(TableT1- Table T2) is the difference amount of  Sales VAT amount and Purchase VAT amount (when the value of T1 is greater than T2) the Net Value box (T3) will be in red and the value will be in white otherwise show blank;  this is being indicated as T3.

Net Repayable: “Net Repayable”is (TableT1- Table T2) when Box T2 is greater than Box T1, otherwise show blank.  If non-blank, show with black background & white text; this is being indicated as T4. 

Intra EU Trade

Total Goods to other EU Countries: “Total Goods to other EU Countries” is the Net Amount of Sales Transactions (Sales Invoices & Credit Notes, non-customer receipts) where the country of the Customer is in the EU (European Union) and not the Country of the Business. VAT of these transactions will be displayed in Surf Accounts “Total Goods to other EU Countries” column is being indicated as “E1”.

Total Services to other EU Countries: “Total Services to Other EU Countries” is the Net Amount of Service Transaction (Invoice & Credit Notes related to service, non customer receipts) where the country of the customer is in the EU (European Union) and not the Country of the Business. VAT of these transactions will be displayed in Surf Accounts other EU Service column is indicated by “ES1”.

Total Goods from other EU Countries: Total Goods from other EU countries” is the Net Amount of Purchase Transactions (Purchase Invoices, Purchase Credit Notes, non-supplier payments) where the country of the Supplier is in the EU (European Union) and not the Country of the Business. VAT of these transactions will be displayed in Surf Accounts other EU Purchases column is indicated by“E2”.

Total Services from other EU Countries: “Total Service from other EU countries” is the Net Amount of Purchase of services (i.e. purchase invoices and purchase credit notes) where the country of the Supplier is in the EU (European Union) and not the Country of the Business.VAT of these transactions will be displayed in Surf Accounts “Total Services from Other EU Countries” is indicated by “ES2”.

General note:  

If the VAT code is selected as “N” (VAT not Applicable) for the business then the VAT Return and calculation will not appear. In Surf Accounts Non-EU countries will not be considered anywhere within the VAT Return calculation and report.

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UK VAT Return

Surf Accounts provides a different VAT format for UK business so that users can file the return following the HMRC rules and regulations. The VAT return format for UK business is slightly different compare to Ireland VAT Return format. Through Surf Accounts you can generate VAT Return on “Cash Basis” as well as” Invoice Basis” for the UK business.

VAT Return on Cash Basis

VAT on Sales and other outputs:  “VAT on Sales” is the total VAT Amount on Sales Invoices, unallocated portion of the customer receipt (for country of business or customers without any country specified in their edit) , and Non-Customer receipt  including Other EU Sales. This column is being indicated as 1.

VAT due this period on acquisition from other EC member States: VAT from allocated sales invoices, unallocated portion of customer receipts for all countries within EU (other than country of business).Country should be specified for the customers in their edit. This column is being indicated as 2.

Total VAT due the sum of boxes (1 &2): This will be the total VAT amount of column1 and column2. This column is being indicated as 3. For e.g. if the value of the column1 is 100 and column 2 is 50 then in column 3 the total amount will 150 in the column 3. This column is being indicated as 3.

VAT reclaimed in this period on purchases and other inputs (including acquisitions from the EU): This will be the VAT amount from allocated purchase Invoices, unallocated portion of supplier’s payments (for all countries within EU including country of business) or suppliers without any country specified in their edit, all non-supplier payments. This column is being indicated as 4.

Net VAT to be paid to Customers or reclaimed (difference between Box 3 and Box 4): This will be difference amount VAT amount column 3 and column 4 i.e. difference between the total VAT due and VAT reclaimed during the same  period on purchase and other inputs. This column is being indicated as 5.

Total value of sales and other outputs excluding any VAT (include Box 8 figure): This is the Proportionate Net Amount of Sales transactions i.e. allocated sales invoices, unallocated portion of customer receipts (for all countries within the EU (including country of business or customers without any country specified in their edit) and all non-customer receipts. This column is being indicated as 6. 

Total value of purchases and other inputs excluding any VAT (include Box 9 figure): This is the Proportionate Net Amount of purchase transactions i.e. allocated purchase invoices, unallocated supplier payments for all countries within the EU (including country of business or suppliers without any country specified in their edit) and all non-supplier payments. This column is being indicated as 7. 

Total value of supplies of goods Goods excluding any VAT to other EC Member States: This is the Proportionate Net amount of sales of goods to all countries within the EU (excluding country of business). Country should be specified for the customers in their edit. This column is being indicated as 8.  

Total value of supplies of related services Services excluding any VAT to other EC Member States: This is the Proportionate Net amount of sales of services to all countries within the EU (excluding country of business). Country should be specified for the customers in their edit. This column is being indicated as 9.

Total value of acquisitions of goods Goods excluding any VAT to other EC Member States: This is the proportionate Net amount of purchase of goods from all countries within the EU (excluding country of business). Country should be specified for the suppliers in their edit. This column is being indicated as 10.

Total value of acquisitions of related services Services excluding any VAT to other EC Member States: This is the proportionate Net amount of purchase of services from all countries within the EU (excluding country of business). Country should be specified for the suppliers in their edit. This column is being indicated as 11.

General Notes:  If the VAT code is selected as “N” (VAT not Applicable) for the business then the VAT Return and calculation will not appear. In Surf Accounts Non-EU countries will not be considered anywhere within the VAT Return calculation and report. 

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