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Reconciling VAT control - Revenue Sheriff

  • 27-10-2021 6:19pm
    #1
    JansheerKahn
    Registered Users, Registered Users 2 Posts: 44 ✭


    All

    Can someone please explain how the process re liabilities forwarded to the Sheriff works for accounts purposes.

    Say Revenue forward a VAT liability for N/D 2019 to the Sheriff and part payments are being made to the Sheriff;

    Will the VAT liability still be reflected on ROS

    Will the part payments being made to the Sheriff be reflected on ROS - ie the liability reducing and payment visible on ROS

    How do you find out the Sheriffs cost etc

    Are these allowable deductions against profits?

    Is interest paid to the Sheriff also ?

    How do I reconcile the VAT control balance - ie actual amount owed between Revenue and Sheriff elements?

    I am at a loss on this one as have not had to account for same before (luckily) so all advice will be much appreciated.



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