Tax Return Settings - United Kingdom VAT Return

Created by Allison Cloyd, Modified on Mon, 14 Nov 2022 at 01:13 AM by Allison Cloyd

This article covers how to set and edit the setting in your VAT tax return plug-in. 

 

To view/edit your VAT tax return settings go to Admin >Accounting > Accounting Preferences > scroll all the way to the bottom and click on Manage Sales Tax Calculator settings (blue box). 

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Then click on the installed tax return plug-in as below. 

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If you do not see a tax return plug-in on this screen please raise a support ticket.

You will then be presented with some settings:- 

 

VAT Taxable Period

 

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If you are unsure which option to select please obtain advice from your tax accountant. For further information please see the HM Revenue & Customs website here: 

Business tax: VAT - detailed information - GOV.UK (www.gov.uk)

VAT Accounting Basis

 

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If you are unsure which option to select please obtain advice from your tax accountant. For further information please see the HM Revenue & Customs website here: 

VAT - Cash accounting Scheme

 

VAT Payment/Refund Allocation

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If you are unsure which option to select please obtain advice from your tax accountant. 

 

Journal Transaction Date

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If you are unsure which option to select please obtain advice from your tax accountant. 

 

Making TAX Digital API

You have the ability to set up the Tax Digital API which means you can lodge your VAT Return through Actionstep. 

Further instructions on how to set this up are in the menu to the left. 

For further information about Tax Digital please see the HM Revenue & Customs website here: 

 

Making Tax Digital

 

Once you have confirmed your changes hit the Save button. 

 

WARNING: Actionstep provides the VAT report as a shortcut to calculating your VAT data. We can only calculate the data we have 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 Return or the content of the VAT Return we recommend you speak to an accountant or other expert in UK tax law. This user guide content is purely to explain how to set up the VAT return settings, the options you select are your responsibility.