Filing VAT Returns

What is a VAT Return?

VAT Returns are tax forms that registered businesses submit to the HMRC on a quarterly basis (or on a monthly basis based on your reporting period). The return contains details of your total sales and purchases, the amount of VAT payable refundable from HMRC.

How do I file my VAT Returns?

You can file your VAT returns online using Zoho Books or if you are filing your return offline, you can just generate your returns using Zoho Books.

Generate and Submit VAT Returns Directly from Zoho Books

Prerequisites for filing VAT returns through Zoho Books:

Once you configure your VAT settings, you will be able to generate your reports in Zoho Books. The steps involved are:

Generate VAT Returns

To generate your VAT Return in Zoho Books:

Generate Return Online

Return Details

Finalise VAT returns

Once a VAT Return summary and a detailed report are generated, you can make adjustments, verify and submit your returns. To do this:

Adjust Amount

Finalise

Finalise Return

Note: Any transactions added to this period after finalising will not be available in this return. You can however convert it back to the Draft status by clicking Edit Return.

Submit VAT Return

Once you’ve verified your return, you can submit it to the HMRC.

submit to HMRC

final-submit

You can then make your payments to the HMRC and Record Payment/Claim in Zoho Books.

Record Claim

Go to the All Returns tab to view all the returns filed along with their details such as Filing Status, VAT Payable, Vat Reclaimable, Balance Due, and Payment Status.

Note: You can view the changes made to a return and add comments for discussion in the Comments and History section available in the top right corner of the VAT Filing page.

Generate VAT Returns from Zoho Books and Submit Them Offline

If you are exempt from filing your taxes digitally, Zoho Books helps to generate the return so you file can your taxes to the HMRC. To do this:

Mark As Filed

Note: Once you’ve marked your return as filed, this cannot be undone.

Record Payment

Amount Paid

Go to the All Returns tab to view all the returns that were filed along with their details such as Filing Status, VAT Payable, Vat Reclaimable, Balance Due, and Payment Status.

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