CT1 question-VAT due to company

Coala · 15-09-2009 10:46am #1

Hi, does anybody know how to enter VAT repayment due to company in CT1 return? There is just one line for that - Tax creditors(all tax owing). If i will fill in it will look like I owe to revenue. Any ideas? thanks

Coala · 15-09-2009 10:51am

Do I have to include in debtors?

dbran · 15-09-2009 1:04pm

I believe it is just included in debtors

Coala · 15-09-2009 3:47pm

thanks i will stick to that.

Legend100 · 15-09-2009 5:23pm

I enquired about this a while back with revenue and was told to net off the vat repayabale against other tax creditors (paye CT RCT etc) in the tax creditors box

if no tax is payable and you only have a vat repayable situation, then put it into debtors

Coala · 15-09-2009 5:32pm

That would not help me because liability is less than repayment. I gues Debtors is correct,I found previous question what I asked before just in different situation. Under thread VAT refund treatment.

Kingkong · 17-09-2009 10:50pm

Those account extracts are so subjective. The current view I take is that these should mirror the accounts in all respects. Therefore only tax creditors are included and not tax debtors. Also only trading income is to be included. I wouldnt pay too much attention to what Revenue say over the phone about this. There is some e brief on it.

CT1 question-VAT due to company

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