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Samilou67


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input tax for VAT return
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Hi, I am a trainee bookkeeper and I have been asked by my accountant to do the following below, please could someone guide me through it on Sage as I have never had to do this before and the accountant isn't back until after the VAT return has to be submitted.

 

'You will need to claim the following under claimed input tax in the next VAT return £177.37 which covers the above periods'

 

I would really welcom some help please.

Sam



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Sam
Rhianrach


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It looks like you need to adjust box 4 by £177.37 (I would wait for verification for this off another member). I can't quite remember but if you run the return on sage there will be an adjustment tab which will then allow you to make the adjustment, just make sure you use a suitable narrative in the narrative box when making the adjustment.

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Steve
Samilou67


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Oh thank you Steve, I thought that was it but I am a bit nervous without backup

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Sam
Rhianrach


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No problem Sam, like I say hopefully someone will verify this but it certainly looks that way to me. I have a similar thing to do on my next return, except it will be a negative figure, my accountant assures me that you should never adjust box 1 for some reason, always box 4 whether it's an input or output adjustment.

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Steve
Don Tax


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I'd be genuinely interested why he's said that Steve. I mean if previous outputs have been mis-stated, then it is outputs that need to be adjusted later, not inputs.

Sam, this statement from the VAT Office should be accompanied with a list of errors which (your accountant will have agreed) are to be corrected before instructing you. As they've said 'claim', these are an increase to box 4 and you might be able to satisfy yourself, from that list, that one or more of the errors do indeed require an additional VAT claim.

kind regards,
Tim



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Rhianrach


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I will ask when I do the return and let you know.

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Steve
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