VAT : Things to Remember When Preparing your VAT return


Boxes 1 & 5 are tax boxes – you write your figures in here

Box 2 is for VAT on purchases from other EC countries

Boxes 6 & 9 are always whole numbers- forget the pence

Box 6 is net sales – that includes all net sales

Box 7 is net purchases includes all net purchases but not business expenses such as wages and salaries, payments of taxes, etc.

Boxes 8 & 9 are only for the purchase or sales of goods to EC countries

The values in Boxes 8 & 9 are also included in Boxes 6 & 7

Box 8 will trigger the need for an EC Sales List

An EC Sales List is also required for Sale of Services

The Reverse Charge on International Services is included in Boxes 1,4,6 & 7

Intra EC acquisitions are included in Boxes 2 & 4