To Submit your VAT Return

1. Print your VAT Return report.

2. Copy the figures from the Sage Line 50 VAT Return report to your actual VAT Return form.

3. If the value in box 5 of your VAT Return (i.e. the net VAT to be paid to the relevant tax authorities or reclaimed by you) is positive, (i.e. there is no æminusÆ sign before the value) you owe this amount and you should make a payment for this.

If the value in box 5 of your VAT Return is negative (i.e. there is a æminusÆ sign before the value), you have overpaid on your VAT and are owe this amount.

4. If you have to make a payment, send the VAT Return form you completed, together with a payment, to the tax authorities. You should now record your payment from your Sage Line 50 bank account.

If you need to reclaim VAT, send the VAT Return form you completed to the relevant tax authorities. When you receive this money, you will need to record it into your Sage Line 50 bank account.

Your next step...

To Record a Payment to the Tax Authorities