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VAT returns question

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  • 06-07-2019 2:14pm
    #1
    UncleGobo
    Registered Users Posts: 5 ✭


    Hi,

    I regularly make VAT returns using ROS.
    I sometimes come across receipts that I should have included in my VAT return.
    I simply include the VAT claim for these receipts in a subsequent VAT return.
    Is that acceptable or should I be make changes to my original VAT return ?

    Likewise, if I forget to factor in the VAT for an invoice and then subsequently see my error, I simply include it in the next VAT return, even though it is not for that VAT period.

    I have been doing this for a while and never had a complaint from the revenue.

    Is the above acceptable or should i really be amending or making a supplementary vat return ?


    Thanks a million for your assistance.

    I want to ensure that I am doing the right thing here.
    Tagged:


Comments

  • Options
    #2
    mrslancaster
    Registered Users Posts: 1,814 ✭✭✭mrslancaster


    UncleGobo wrote: »
    Hi,

    Likewise, if I forget to factor in the VAT for an invoice and then subsequently see my error, I simply include it in the next VAT return, even though it is not for that VAT period...


    If you are required to issue an invoice then vat becomes due on the day you issue the invoice or the day you should have issued it, whichever is earlier. Deadline for issuing invoices is within 15 days of the end of the month the goods or services are supplied.

    If you issue the vat invoice late then any vat due to revenue would be late. The late fines & interest can add up.


  • Options
    #3
    ismat
    Registered Users Posts: 168 ✭✭ismat


    What you are doing is perfectly ok


  • Options
    #4
    Bobby1984
    Registered Users Posts: 267 ✭✭Bobby1984


    ismat wrote: »
    What you are doing is perfectly ok

    Totally agree. Just makes sure that the amounts are small and there are not loads of errors in each return.

    If you have a large error whereby you underpaid, look up Self Correction in Revenues code of practice. You can correct an underpayment of up to €6K in the next vat return provided some conditions are met and this is done without notifying Revenue.


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