VAT return

If you are VAT registered you are required to submit a regular VAT Return with the relevant tax authority - HMRC or the Irish Revenue.

When producing a VAT Return from Sage 200, we recommend that you follow these steps:

1. Review your current VAT position.
2. Reconcile your VAT Return.
3. Produce and submit your VAT Return to the HMRC or Irish Revenue.

VAT126

If you claim VAT refunds using the VAT126 service, you can use Sage 200 to produce the required information with details of the VAT on your purchases. To do this, you produce a report called VAT transactions (Education), which contains the details of your VAT transactions.

The VAT126 service is used to claim back VAT for non-business activities, if you're not registered for VAT and are exempt because you're an academy school or trust. There are certain rules on what you can claim, so for more information contact your professional advisor or HMRC.

When you print your VAT reports, the VAT transactions (Education) report includes information required for VAT126, with purchase transaction details for your supplier invoices and credit notes:

• Transaction date.
• Supplier reference, name, and VAT registration number.
• Description of goods or supplies.
• To whom addressed (organisation receiving goods or services).
• VAT amount paid.
• Unique reference number (URN) in Sage 200.