How do i clear down the VAT so it starts from zero for my next VAT return which needs to be submitterd to HMRC electronically
I currently prepare our VAT return manually. From the next VAT return i will need to do this digitally. Currently the VAT reports show a large figure owing to HMRC, which is the sum of all the histroical VAt returns. How do i zero this control total in the reports so that when i submit them the figure is correct.
Histroically the VAT control account on the balance sheet shows the correct figure as payments are charged to the control accounts when HMRC is paid.