Working with UK VAT Return Settings (Admin)

Modified on Fri, 13 Jun at 3:13 PM

You can edit your VAT (or Value Added Tax) return settings.

CAUTION: Actionstep provides the VAT report as a shortcut to calculating your VAT data. Actionstep can only calculate the data it has been given and your business is ultimately responsible for any data given to HM Revenue and Customs. Actionstep does not provide advice for tax matters and if you have any concerns or if you are unsure about how to file your VAT or the content of your VAT, it's recommended you speak to an accountant or other expert in UK tax law. The content in this article is purely to explain how to set up the VAT return settings. Which options you select are your responsibility.

To do this:

In Actionstep, go to Admin > Accounting. The Accounting page appears.
Click Edit for the Tax Return Settings option. The Tax Return Settings page appears.
NOTE: If you do not see a tax return plug-in on this page, contact Actionstep Support.
Click the link for Gb-Hmrc_Vat100Return. The Edit Division Plugin window appears.
TIP: When reviewing this options, consult your tax accountant if you have questions.
Click the VAT Taxable Period drop-down list and choose the option you need. (See the UK Government website for additional information.)
Click the VAT Accounting Basis drop-down list and choose either Accrual/Invoice Basis or Cash/Payment Basis. (See the UK Government website for additional information.)
Click the VAT Payment/Refund Allocation drop-down list and choose how you want payments/refunds allocated.
Click the Journal Transaction Date drop-down list and choose the option you need.
Click Save to save your changes.

NOTE: You can file digital VAT returns from within Actionstep. To learn more, see Filing a VAT Return Digitally from Actionstep (UK, Admin).