How to do a VAT Return in Xero

[@ivonalenkevic6190]

thank you. I'm rewatching it every quorter :)

[@XUSolutions]

So glad it is helping you

[@jeffjeffjeff2]

Excellent video and explanation of the steps to take. Thanks for sharing

[@XUSolutions]

You’re welcome

[@thescienceofwellbeinguk]

Thank you. Well described as usual x

[@joyceibitoye1388]

Thanks. Very helpful video. Clear and to the point.

[@XUSolutions]

you’re welcome

[@nadiariaz510]

Your videos are extremely useful. I have learned a lot about Xero by just watching your videos. Can you do one video on Vat reconciliation report in Xero as it is quite confusing to me

[@XUSolutions]

I’m not a fan of the report and I’m not sure it works with MTD VAT returns.

[@kazmi-ej5uz]

Explained Very well

[@mikes6403]

Very Helpful. Thank you so much for the tutorial .

[@XUSolutions]

Glad it was helpful!

[@oibab1475]

Great video. I have a question I really need help with! If a VAT registered re-seller, purchased items from a non-VAT reg supplier, to re-sell on Amazon, what is the correct VAT calculation for this transaction? Would the VAT registered re-seller simply have to pay 20% on the sale price (as there is no VAT to reclaim off of the purchase)?

[@onlinechemistuk]

Can I book an appointment for checking my Vat settings and payroll settings please.. is that possible?

[@mohammedhossam3455]

That was an amazing video. Thank you but I got a question as far as sales can I add VAT number for clients so when I check the vat report I find it there

[@XUSolutions]

I'm not sure why you would want this

[@mohammedhossam3455]

@@XUSolutions because it is one of the main points in my country tax report

[@kealanperisson1617]

Thank you lovely helpful Scottish lady !

[@XUSolutions]

You’re welcome

[@marthashalom-aviela721]

Hi I really liked this video. It was very helpful. Can you please do a video on vat codes. Also, what happens after the vat return is filled, do I need to post the paid amount to the vat account.

[@XUSolutions]

OK I will add that to my video list. And yes, when you make the payment it should be coded to the VAT account to clear the liability.

[@shahabuddinahmad8792]

Absolutely fantastic....thanx

[@XUSolutions]

You're welcome

[@kabeerhussain6226]

Hi, Can you please make the video of the marginal base VAT, how to do the marginal base VAT on xero for car trader. Much appreciated

[@AbdusSamad-xr2jl]

Make a video for flat rate vat return

[@XUSolutions]

Maybe sometime soon

[@carolewynn-jones9517]

Thank you for this. However, my dashboard doesn't look like yours and I don't even have a 'settings' button. I've googled but to no avail. Not sure how else to look at my VAT stuff. Any advice please? kind regards Carole

[@XUSolutions]

Xero regularly changes how things look. Often I will detail the changes in the video description.

[@veganize]

Shouldn't it be 'No VAT' rather than 'Zero Rated'? The seller does not charge VAT. From my understanding, zero-rated should only apply to products/services that are actually zero-rated but do attract VAT (i.e. food items).

[@XUSolutions]

You can select 'no VAT' but by selecting 'zero rated' the purchase cost will appear on the VAT return data.

[@jackielambell274]

Hi, How do I make sure that refunds from suppliers show as a minus in box 4 of vat 100 and not box 1 as sales?

[@XUSolutions]

By choosing the correct VAT code - expenses not income

[@mikeschollar]

Really helpful video. We’re moving to Xero for the next tax year and wondered how we’d get on claiming VAT on purchases already applied to sales, so for example letting agent charges deducted from rent payments prior to us receiving the rent payment. We currently claim VAT on these management charges separately as we manually calculate and complete our VAT returns. I can’t see how I’d show this in xero using the demo version.

[@XUSolutions]

I've dealt with this exact scenario in Xero previously. The agent issued monthly statements which were input as purchase credit notes with the fees shown as a negative line (including the VAT amount to reclaim)

[@mikeschollar]

@@XUSolutions so if the agents fees (deducted from the rent) were £20 inc VAT (as an example), would I simply create a credit note for -£20?

[@albrightltd8986]

move to Sage same price or cheaper 24/7 support and I mean 24/7 and instant response

[@mobassherahmed2412]

Very helpful Video thank you.

[@XUSolutions]

You're welcome!

[@vishalrattan4874]

Really helpful, thank you!

[@XUSolutions]

You're welcome!

[@ministermusic6677]

Hi nice & very informative video, also could you please create a video on when there is difference in VAT amount as compared to trial balance or balance sheet. What are the reasons & how to reconcile the difference between VAT amount as per VAT return as well as VAT amount as per Balance sheet. If you create this video then that will be highly appreciated ... thank you

[@XUSolutions]

I'm glad you found the video helpful Atul. I'm always looking for suggestions for new videos, so will add this to my to-do list.

[@deaneprox]

@@XUSolutions Hello. Atul suggestion is a good one as I wondered this too. Did you ever create video explaining please?

[@XUSolutions]

Not yet

[@deaneprox]

@@XUSolutions No worries. Could you give quick explanation here how the two figures could ever be different, as are they not obtained from the same data?

[@XUSolutions]

I can try, but there can be so many different reasons. But firstly if you are on ‘cash accounting’ for VAT there will automatically be differences if you issue sales invoices or enter bills. Secondly if you make corrections after submitting your VAT return. Thirdly if you code items to the VAT Control account in error.

[@minshum]

Or just leave Xero and go to Zoho like I did. Never looked back.

[@XUSolutions]

Find what works with you and go for it

[@albrightltd8986]

Useless and outdated now the whole interface has changed

[@loafollower9590]

Not useless but it has changed and I don’t have the audit export to check

[@albrightltd8986]

@@loafollower9590 MTD came in April 2019 this video is from 2015