I am filling out the annual return of trading details (RTD) VAT form for the first time, and am finding it very tricky. I have the VAT for small businesses guide but the example in that is a very simple case.
I finally got through to Revenue who helped me with column 1 but then I found out from them that I had completely misunderstood column 2, so I would really appreciate it if someone could confirm if the following is correct:
1) Column 1 - supplies
I only supply at 21% so is this (sum of VAT3 T1 values)/21*100?
My VAT3 T1 values would include some "dummy" VAT for outside EU purchases and EU purchases (i.e. I don't get charged VAT on the EU stuff or the outside EU stuff, but I self account for it, adding 21% to T1 and deducting this from T2 which does not change the VAT liability but does increase both T1 and T2)
So is the ex VAT value of the EU and outside EU purchases included in the first column, or is is purely the VAT I charged on my sales invoices?
2) Column 2 - Acquisitions from EU countries ex VAT
I thought I understood this because the heading to me says only include EU purchases i.e. the sum of VAT3 E2 figures
However, Revenue now tell me that *all* purchases (domestic, EU, outside EU) go in this column and that columns 3 and 4 should sum to column 2.
This really confuses me because the column is titled EU?!
These boxes should contain the total value of supllies/sale of goods/services (net of VAT). Include the value of self supplies and the value of services received from abroad where the recipient must pay the VAT.
These boxes should contain the total value of acquisitions of goods/services from other Member States (include VAT free imported parcels). Determine the rate which would apply if the goods/services were supplied within the state and enter the value in the relevant box.
Many thanks Mandelbrot - that makes a lot of sense.
The ROS help link for the RTD form says for the column 1 boxes:
It was the last part of this which made me think I should include the value of EU and outside EU purchases which I add in "dummy" VAT for in the VAT3 returns.
The ROS help for column 2 says:
I did ask the Revenue official a few times why all purchases should go in column 2 if the heading says EU, but he said it was just that the form was not user friendly. But now I have this Ros help file printed, I'll go by that.
Is it the "include VAT free imported parcels" bit that is the signal to include outside EU stuff?
The column 2 in the Vat for Small Businesses book had a box saying it should cover both a)Intra EU and b)Imported Parcels, but the ROS form just has a heading 'Acquisitions from EU Countries' so that's why I was wondering if the form may have changed since the 2006 guide and column 2 was EU only now.
It is old topic, however some things become clear for me after I completed my RTD. I would like to point that, despite revenue official help, correct way to fill form is as follow:
Column 1, 2 are for vat which goes to revenue either real and dummy
Column 3, 4 are for vat which goes to company, same real and dummy
- Column 1 - Sales
- Column 2 - Acquisitions from EU and Import (vat free parcels)
- Column 3 - total purchases for resale
- Column 4 - total purchases not-for resale
Checkup rules
VAT calculated from column 1 and 2 at corresponding rates equals total of T1
VAT calculated from column 3 and 4 at corresponding rates equals total of T2
I have come into this conclusion after reading the manual to Sage accounting software which a lot of people use to make RTD return - "Return_of_trading_details.pdf". Please e-mail me for link or copy, unfortunately I am not able to post link here.
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