How to enter a Receipt or Payment of VAT to HMRC

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Overview

Upon completion of the VAT Wizard, it is necessary to record the appropriate transactions in the accounts to reflect the submission of the VAT 100 to HMRC.

How to enter a Receipt or Payment of VAT to HMRC

The screen below shows a position where a sum of VAT is to be recovered from HMRC, either on VAT 100 or on forms VAT 426 or VAT 427:

File:test/insolvency/150_13+VAT+Wizard/030_How+to+enter+a+Receipt+or+Payment+of+VAT+to+HMRC/VATReceipt1.png

A sum of £901.40 should be received from HMRC on submission of the appropriate form.

The same amount can be seen from the Accounts tab (in the VAT Control and the VAT Inputs (Outputs) accounts:

File:test/insolvency/150_13+VAT+Wizard/030_How+to+enter+a+Receipt+or+Payment+of+VAT+to+HMRC/VATReceipt2.png

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