VAT.. help! quickly!

Need some help filling in a VAT return.....

What the hell goes in box 6 & 7 ??

Does all the outputs and inputs go in those box less the VAT ? including wages etc.... or is it only purchases etc.... ?

I know a few of you lot will have done a VAT return at somepoint....


help!!!

Box 6 and 7 should be your Net figures ie no VAT.

Public Notice 700/12 refers. You need paragraphs 5.6, 5.7 and 5.8.

link here to notice

To quote:

5.8 Things to remember when completing boxes 6 and 7
Leave out:

VAT itself
wages and salaries
PAYE and National Insurance contributions
money put into and taken out of the business by you
loans, dividends, and gifts of money
insurance claims
Stock Exchange dealings (unless you are a financial institution)
MOT certificates
motor vehicle licence duty
Local Authority rates and
income which is outside the scope of VAT because it is not consideration for a supply.
You should:

show net figures after taking off any credits
treat discounts as described in Notice 700 The VAT Guide
if you use the cash accounting scheme, base your figures on payments made and received, not invoices issued or received.

In case it doesnt load for you.

HTH

Thanks very much! I tried ringing the help line... but I get a cannot connect your call message....

I had a quick dig on the site, and couldnt find anything... that will teach me to look harder next time!

cheers!



The return is being done on paper at the moment.... we now pay online via the bank though, we were told that gives you an extra 7 days to send off the paper form back.... and had that back saying we didnt fill it in properly... left out box 6 & 7...... hence the sudden rush to find out what it is..... as I take it, this does not alter the amount payable in any way.... might be in a tad of trouble now though.. as looking at previous returns, none of those had box 6&7 filled in either.. even the previous bloke didnt do those either.... This isnt my VAT return.. its for the company I work for.. as Im the only one with the temprement to sit down and play with numbers for a few days solid...

edited my reply above... lol

I'd always thought that box 6&7 were for works done that had no VAT.. example new build housing etc... as last time we did that was 2 or so years ago...

at least I know how to fill the thing in properly now....

they could use simpler terms in telling people what the boxes are for!

Originally Posted by valleyboy

Thanks very much! I tried ringing the help line... but I get a cannot connect your call message....

I had a quick dig on the site, and couldnt find anything... that will teach me to look harder next time!

cheers!



The return is being done on paper at the moment.... we now pay online via the bank though, we were told that gives you an extra 7 days to send off the paper form back.... and had that back saying we didnt fill it in properly... left out box 6 & 7...... hence the sudden rush to find out what it is..... as I take it, this does not alter the amount payable in any way.... might be in a tad of trouble now though.. as looking at previous returns, none of those had box 6&7 filled in either.. even the previous bloke didnt do those either.... This isnt my VAT return.. its for the company I work for.. as Im the only one with the temprement to sit down and play with numbers for a few days solid...

The net figures dont affect what you pay, only affect whether we can process the return - we need those figures correctly completed. I suspect either your predecessor either never wrote them on his copy or got quarterly phone calls from us. All it will really do is flag your company up for an inspection just to make sure that future returns are done correctly.

Im sure they would have gotten the numbers off us someway or another.. but looking back at the returns, and the ones I have been doing over the past year or more... those boxes havent been filled in for a long time....

I suspect they would get the numbers from us from our end of year accounts or simular....

I know the VAT payable has been correct.... as Ive spent many a day working that lot out (even over christmas and new year holidays!) its only boxes 6&7 that have not been filled in correct..... at the end of the day, its not that hard to work back to the Net figure from the VAT amount....

lesson learnt... dont take for granted what those before you have done...

When I get a chance, Im going to ask for a load of literature.... as theres still a few things I have questions over.... my boss keeps on butting his head in and saying to do this that and the other.... I'd rather double check and make sure it is correct... as some of these returns have my signature on them...

Originally Posted by valleyboy

Im sure they would have gotten the numbers off us someway or another.. but looking back at the returns, and the ones I have been doing over the past year or more... those boxes havent been filled in for a long time....

I suspect they would get the numbers from us from our end of year accounts or simular....

I know the VAT payable has been correct.... as Ive spent many a day working that lot out (even over christmas and new year holidays!) its only boxes 6&7 that have not been filled in correct..... at the end of the day, its not that hard to work back to the Net figure from the VAT amount....

lesson learnt... dont take for granted what those before you have done...

When I get a chance, Im going to ask for a load of literature.... as theres still a few things I have questions over.... my boss keeps on butting his head in and saying to do this that and the other.... I'd rather double check and make sure it is correct... as some of these returns have my signature on them...

If the VATs correct we won't worry unduly about the net figures, our priority is to ensure the tax is correct.

You could get literature but you can also request an educational visit - one way perhaps if you have an inspector there your boss cant get you to do something else and you can set aside the time to go through things with the inspector.

Re the last bit, yes it is a legal document you are signing but it wouldnt be you personally who would face any action from us if there were any to be taken it would be the registered entity ie the company.