How to do a VAT Return on Xero: A Beginners Guide to Xero VAT

[@deborahjoseph5170]

Thank you so much for these videos on Xero. Most of the jobs I'm applying for uses Xero. So far, with your videos, I'm 95% confident I can use the software. Thank you again.

[@BookkeepingMaster]

Glad to help! Thanks for taking the time to comment

[@JulieJackson-h2b]

Brilliant and useful videos. Thank you!

[@BookkeepingMaster]

You're very welcome!

[@KathrynAsker]

Thanks - very helpful - just about to lodge my first ever VAT return and feel much happier about it now!

[@BookkeepingMaster]

Great to hear! Thanks for watching

[@roldansophie]

Very helpful and informative. I like it.

[@BookkeepingMaster]

Glad you think so! Thanks for the comment

[@veritymartin1051]

Thank you. So so helpful. I have just swapped from Sage to Xero. I have used Sage for 29 years so very nervous about swapping over to Xero. I have to say it is so much easier to use.

[@BookkeepingMaster]

You can do it! Thanks for taking the time to comment

[@gusmeliabarreto9170]

excellent explanation about how to do the VAT Return. Thank you so much, I learn a lot with your videos. I started working at an accounting firm two weeks ago and they are using only Xero software accounting. Now i feel confident using Xero after watched all your videos. Again, Thanks a lot.

[@BookkeepingMaster]

Great to hear! Thanks for watching

[@user-rz1lk6ex8d]

Mate this is a great training modules you have created. This is a great help to community.

[@BookkeepingMaster]

Glad you think so! Thanks for watching

[@tahmineabbasi3750]

thx for the video. I am just about to file my first vat return and I am a bit nervous about it. but your video helped me very much. thank you.

[@BookkeepingMaster]

Glad it helped! Thanks for watching

[@tomrusson6126]

Great video - I'm a new user of Xero. Thanks so much. 1.5x speed is my friend for a sleepy Friday night!

[@BookkeepingMaster]

Enjoy!

[@oyebodekarunwi7928]

This is highly helpful. Very good job. Thanks for this initiative.

[@BookkeepingMaster]

You're very welcome! Thanks for watching.

[@bethbaldemoro9485]

Thanks for this informative video, I will be needing this soon.. pls dont stop sharing infos.

[@BookkeepingMaster]

Will do! Thanks for watching

[@kamrulmoniracma2991]

Great learning experience. Very easy way you described everything. Hope in the future u will create more things.Thanks from heart

[@BookkeepingMaster]

Thanks a lot 😊

[@SteveRobinson-og7cr]

Excellent training course- thank you so much

[@BookkeepingMaster]

Glad you enjoyed it. Thanks for the comment and for watching

[@LaurieCummings-z4b]

This video has been very helpful my man.

[@BookkeepingMaster]

Glad to hear it!

[@samquinn8278]

clear and straight forward, thank you

[@BookkeepingMaster]

Thanks

[@anamikashukla8061]

Fantastic videos and well explained in detailed thanks so much 😊

[@BookkeepingMaster]

Glad it was helpful! Thanks for the comment

[@ecaterinagumennii1460]

Thank you, very straightforward, I would like to ask how to add a net error from a previous VAT return?

[@dennisimbang9496]

thank you so much

[@BookkeepingMaster]

Welcome 😊

[@angelawilliams1039]

Thank you. Always helpful.

[@BookkeepingMaster]

My pleasure! Thanks for watching and taking the time to comment.

[@rhonaforbes7039]

Great video ⭐ Lots of information... Thanks 😊

[@BookkeepingMaster]

Glad you enjoyed it! Thanks for watching

[@emmaa3376]

Most helpful thanks!

[@BookkeepingMaster]

No worries! Thanks for watching

[@beckyb76563]

Thank you. Really helpful :)

[@BookkeepingMaster]

Glad to hear that! Thanks for watching and for the comment.

[@Acer2012ish]

Thank you very much. appreciate it.

[@BookkeepingMaster]

No worries! Thanks for watching

[@hussainsabbier6693]

Thank you so much

[@BookkeepingMaster]

No problem. Thanks for watching.

[@md.rafiul.ahasan]

Thanks so much

[@BookkeepingMaster]

No problem. Thanks for the comment

[@user-gb4kj4dm9d]

Thank You !

[@BookkeepingMaster]

You're welcome! Thanks for watching

[@mccullumdamps5785]

Thank you

[@BookkeepingMaster]

You're welcome. Thanks for watching.

[@Mamite926]

Thanks!

[@BookkeepingMaster]

You bet!

[@thomasinaegan2227]

superb -

[@BookkeepingMaster]

Thanks 😊

[@antoinette2563]

Almost like my friday nights 😂😂❤

[@BookkeepingMaster]

LOL! Thanks for watching

[@antoinette2563]

I have been watching all your videos the whole day! Iam also a qualified ICB Senior bookkeeper !

[@N1ck1976]

Great video, as a freelancer my question would be, what happens if I’m not paid until after the vat quarter period?

[@BookkeepingMaster]

If that concerns you, sign up for VAT cash accounting. That way VAT is declared upon invoice payment rather than invoice date. Thanks for watching.

[@MargoLola-sj8pn]

Hello, This video has been so very helpful. But I have one question please... This is my first VAT return for my business and my accountant has advised me that I can claim back VAT paid for 6 months prior to my registration. Can you help with how to do this on my first VAT return please?

[@BookkeepingMaster]

I can do, but I obviously charge. Is this not something your accountant can help with?

[@remarkablepubs-g1y]

I am setting my MTD up, I have a question about the sales/purchases we are a vat registered company there fore what do I choose VAT INCLUSIVE? OR VAT EXCLUSIVE? please help as no tutorial mentions this part.

[@BookkeepingMaster]

It's your personal preference - it doesn't matter either way. Just ensure the VAT amount is correct before posting transactions. VAT inclusive will require you to post the gross amount (the total including the VAT). VAT exclusive will require you to post the net amount (the amount before VAT). I hope this helps.

[@janermacalino6330]

If the payment has been done is there any submission needs to be done? Or how do we get acknowledgement from the Gov

[@BookkeepingMaster]

Both a submission and payment must be done. The submission will show on Xero, if connected through MTD.

[@user-gb4kj4dm9d]

After the Yer period is up,how much time do they have to file ? Two months whether Quarterly, or Yearly ?

[@BookkeepingMaster]

For quarterly returns, one month and seven days, so the 7th of the following month. Thanks for watching.

[@sharonmendoza1745]

🥰🥰😃

[@BookkeepingMaster]

Thanks for watching

[@edwardcatton8211]

Once you have filed, does HMRC automatically take what you owe from your bank account or do you need to pay it somewhere else?

[@BookkeepingMaster]

You need to pay it by bank transfer or card unless you have a direct debit set up. If the latter, then it will be taken automatically.

[@LL-bj1it]

Very helpful, thank you!

[@BookkeepingMaster]

Glad it was helpful! Thanks for watching