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?!
Many thanks for your time
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?!
Many thanks for your time