What do I need to know about completing my VAT return?

Here’s a list of the key points for your VAT return, so you that you know which cases may occur when completing a VAT statement. (The list is not company-specific and does not include all possible cases.)

Turnover reconciliation

Your turnover reconciliation must indicate how you have compared and reconciled the tax period with your financial statement for the year. It is important to reveal which billing method and tax rates were applied.

The following should be taken into account:

  • Expense reductions
  • Remuneration for staff use of vehicles
  • Sale of resources (e.g. vehicles)
  • Advance payments
  • Revenue reductions
  • Bad debt losses
  • Accruals that are not relevant to turnover
  • Provisions and deferrals that are not relevant to turnover

Input tax reconciliation

Your input tax reconciliation should demonstrate that you have compared the input tax in your financial accounts with the tax which you declared and made any corrections that might be necessary.

The following should be taken into account:

Further information

In certain cases, you may still need to manually correct the VAT settlement with the trustee. Whether you are affected or how this goes in detail, you will find out here: Correct VAT

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