VAT is a tax on the final consumption of goods and services which are not zero rated. Vat registration is not compulsory for a self employed business until total sales reach the vat threshold.

VAT RETURNS

No entries required

Sales and Purchase totals, vat input and output tax are collected by the Vatinterface.

Five Vat Returns are provided for each of the potential Vat 2 month periods during the financial year.

If your VAT periods are not 2 months, which is possible depending on your turnover, then collect the relevant information either direct from the sales and purchase accounting spreadsheets or the Vatinterface sheet.

To Generate a Vat Return

Go to the vat period to be produced, for example

Click Vat2009 > VATFeb09

Click Cell K5 which contains the date to which the vat return is to be produced

Scroll Down and Click the month end date required

The formula then automatically looks up the values and inserts these amounts in the vat return.

Vat Sales and Purchases to other EU countries

When you enter EU in the purchases and sales sheets using the drop down menu sales to other EU countries and purchases to other EU countries will be collected for the VAT 3 Returns. The RTD Return will then be required to be entered manually as it is a little complicated if sales and purchases are to several EU countries to actually collect this information without making the spreadsheets over complicated.

Non Vat registered business and Change of Vat status

The standard Vat rate % entered in column H Row 2 of both Sales and Purchase spreadsheets are the key entries from which the Vat is calculated in Column H each month.

To change the vat status of the business from the Standard Vat registered to Non Vat registered:

Cell H2 Sales & Purchases Spreadsheet - Enter 0 to disable the vat calculation in column H

If vat registration takes place during the financial year:

Whenever the vat rate is changed in a particular month that vat rate entered is automatically copied to each succeeding month.