VAT Return on Invoice 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 all Non-Customer receipt) including Other EU Sales (for all EU countries or customers without any country specified. This column 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 all non-supplier receipts) for all EU countries or suppliers without any country specified. This column 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 column is being indicated as T3.

Net Repayable: Net Repayable”is (TableT1- Table T2) is the difference amount of Sales VAT amount and the Purchase amount (when the value of T2 is greater than column T1) the Net repayable otherwise show blank.  If non-blank, show with black background & white text; this column 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) 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

VAT due this period on sales and other outputs: This is the VAT from Sales Invoices, Sales Credit Notes (for country of business or customers without any country specified in their edit), and all non-customer receipts. This column is being indicated by 1.

VAT due this period on acquisitions from other EC member states: This is the VAT from Sales Invoices, Sales Credit Notes 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 by 2.

Total VAT due (the sum of boxes 1 and 2): This is 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 is VAT amount from Purchase Invoices, Purchase Credit Notes (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 is the difference VAT amount in between Total VAT due and VAT reclaimed in this period on purchases and other inputs (including acquisition from the EU). This column is being indicated as 5.

Total value of sales and other outputs excluding any VAT (include Box 8 figure): This is the Net Amount of Sales transactions i.e. sales invoices, sales credit notes (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 Net Amount of purchase transactions i.e. purchase invoices, purchase credit notes 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 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 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 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 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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