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Return trading details

  • 20-12-2017 8:07pm
    #1
    Tommy Max
    Registered Users, Registered Users 2 Posts: 235 ✭✭


    Just wondering if anybody can clear some thing up for me.

    when submitting a return of trading details is it only invoiced items that are included on the return.

    obviously there are items in the accounts such as income booked via accrued income (not invoiced in the period) and costs such as bank fees, merchant banking costs etc which would not be invoiced. so the rtd return will not exactly match the accounts.

    Hope I am giving a decent description. anybody advise please on what does and does not need to be included. thanks

    thanks


Comments

  • #2
    exaisle
    Registered Users, Registered Users 2 Posts: 2,675 ✭✭✭exaisle


    The return of trading details is basically a summary of your vat returns...


  • #3
    Tommy Max
    Registered Users, Registered Users 2 Posts: 235 ✭✭Tommy Max


    exaisle wrote: »
    The return of trading details is basically a summary of your vat returns...

    Thanks for the response. So it definitely doesn't need to tie back to the accounts figures on the CT1.

    what about any customers payments collected on behalf of a client. they would be shown in the accounts both as turnover and cost of sales. these are not a sale but merely a passthrough remittance so incur no vat so should they be shown on a rtd. for example €10 is shown as income and €10 shown as cost of sales in the accounts. no invoice is involved only the request for payment from the client. it has no vat implications but should it be shown still.


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