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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Filing VAT returns in UK
Small and medium business | Business Central, N...
Answered

Filing VAT returns in UK

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Posted on by crawlenj 130

Hi,

Please can someone tell me what is the purpose of the following functions:

  • Within the VAT Return - 'Calculate and post VAT Settlement'
  • Within the VAT Return Period - 'Receive submitted VAT returns'

Many thanks

I have the same question (0)
  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 95,329 Super User 2025 Season 2 on at

    Hi, Hope the following information can help you.

    Calculate and post VAT Settlement

    https://www.youtube.com/watch?v=kwuUxFpHLbk

    https://docs.microsoft.com/en-us/learn/modules/settlements-dynamics-365-business-central/

    https://www.youtube.com/watch?v=vfwUQLVQuyg

    Receive submitted VAT returns

    https://docs.microsoft.com/en-us/dynamics365/business-central/localfunctionality/unitedkingdom/making-tax-digital-submit-vat-return#to-receive-previously-submitted-vat-returns-from-hmrc

    https://dynamics-consultants.co.uk/blog/posts/2019/july/using-making-tax-digital-for-vat-with-nav-and-business-central/

    Thanks.

    ZHU

  • Suggested answer
    JAngle Profile Picture
    JAngle 133 on at

    1. To close VAT entries in the company sub ledger and move the balance payable/receivable with HMRC.

    2. Confirms that the submission has been received by HMRC. It’s not fundamental to complete and is more of a BC housekeeping task

  • crawlenj Profile Picture
    crawlenj 130 on at

    Hi Josh,

    Just thought of another question - at what point are the individual transactions flagged as having been reported through a VAT return? In most software it is the act of submission or marking the return as submitted that then flags the transactions. Is this the same in BC, or does this not happen unless the 'Calculate and Post VAT settlement' is run?

    If so, is there any record in BC of the transactions that were submitted to HMRC if the 'Calculate and Post VAT settlement' isn't run?

    Thanks again,

    Nicola

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