Things to Check Before Your First VAT MTD Submission
On selecting the VAT Filer tab you are asked to make the following checks before making your first VAT submission.
- Check Customer Country Codes
- Check Supplier Country Codes
- Choose between Cash and Invoice Accounting
If you have customers in the EC, make sure you have set their Country Codes so that SliQ can fill in Box 8 on the VAT return.
To set the Country Code for a customer, select the customer on the Customers & Statements tab then select the country code in the VAT tab:
Note: If the Country Code field is left blank, SliQ will assume the customer is in the UK.
If you have suppliers in the EC, make sure you have set their Country Codes and VAT numbers so that SliQ can fill in Box 2 and 4 on the VAT return.
To set a Country Code for a supplier, select the Supplier on the Suppliers tab then select the Country Code in the VAT tab AND set the supplier's VAT number.
Note: If the Country Code field is left blank, SliQ will assume the supplier is in the UK.
For Cash Accounting, SliQ calculates VAT based on the payments received in the VAT period. For Invoice Accounting, SliQ calculates VAT based on the invoices raised in the VAT period.