Generating a UK VAT Return File and Submitting VAT Data to HMRC
In the Tax File Generation application, you can electronically submit VAT data from Vantagepoint to HM Revenue and Customs (HMRC), the UK tax authorities, and complete other interactions with HMRC that are related to the tax submissions.
You can complete this process and submit VAT data to HMRC for:
- A single company
- A group of companies with the same VAT registration number, in a single HMRC submission
Prerequisites
The following setup is required before you can generate a VAT return file and submit VAT data to HMRC from Vantagepoint:
- In
Vantagepoint, complete the following setup for your company. If you track multiple companies in
Vantagepoint, complete this setup for each company that requires a VAT submission:
- On the Tax Reporting tab in , set up the appropriate VAT box numbers in the Tax Report Mapping grid.
- In , enter the tax registration number for your company in the Tax Auditing Features section.
- At the HMRC web site, obtain authorization for Vantagepoint to interact with HMRC.
Overview of the Process in Vantagepoint
- Generate the VAT return file for a company for the intended reporting period.
This file contains tax data that you will submit to HMRC, based on transactions entered in Vantagepoint.
- Obtain the following VAT submission information from HMRC:
- The VAT data for reporting periods that you previously submitted to HMRC, which have a Final status in Vantagepoint.
- The VAT reporting periods for which you have not yet submitted data to HMRC, which have an Open status in Vantagepoint.
- Submit VAT data from
Vantagepoint to HMRC for an open reporting period.
The VAT data that was generated in step 1 is transmitted from Vantagepoint to HMRC.
- Related Topics:
- Generate a UK VAT Return File for a Single Company
Use Tax File Generation to produce a UK VAT return file for a single company. This file contains VAT data generated from the transactions entered in Vantagepoint that you will submit to HMRC. - Generate UK VAT Return Files for a Group of Companies
Before you submit UK VAT data for a group of companies to HMRC as a single submission, you must first generate a VAT return file individually for each subsidiary company and the main company, and then generate a VAT return file for the whole group. - Interface with HMRC
Complete these steps to obtain data from HMRC and submit data to HMRC. - Obtain HMRC Authorization
If this is the first time that you are submitting to HMRC, or if your access token has expired, you must log in to the HMRC website with your personal/company credentials and give Vantagepoint authorization to interact with your data and HMRC. This authorization is completed using the OAuth 2.0 protocol from HMRC.
Parent Topic: How to...