Most of our clients have their yearend at 31st December. Part of the process is they want to process the Annual VAT RTD return. Previously this was a laborious task but With Sage 2013 and higher you can simply run the report and you have all the info to hand. However, there are so many options with VAT rates that it is easy to misanalyse the various rates and especially when some rates are further defined for the RTD report.
A typical question to our support lines over the last few days has been….what rate/codes are used to populate the R2 and J2 box?
So if you require more info for this area will you review the following document which is hyperlinked – VAT Return and RTD Instructions
A couple of things to be aware of:-
The RTD report is NOT retrospective – it will only be affected from changes onwards.
When you are editing the VAT code page (accessed via Settings, Configuration, Tax Codes) you need to ensure that the RATE section in the middle of the right hand column does have a rate selected. If this area is left blank…then this total code will NOT be recorded in the RTD report.
If you review last year’s RTD report and see which areas/codes were completed…..if you want the same areas to be populated….make sure you read the second last page of VAT Return and RTD Instructions
This shows you the makeup of each RTD code….so you can double check if your VAT Rates/Descriptions are correct
Best Regards
Alison Power
021 4544 144
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