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TAX
CANCELLATION OF VAT REGISTRATION
  
If you do not comply with the requirements for Voluntary Registration or if you apply for de-registration, or for some other reason your registration is cancelled, the Tax Authority will send you a notice of your actual cancellation date. After this date, you may not use the VAT number again and all VAT Output less the Input Tax (on transactions before or on such a date) must be submitted on a return and a final payment must be done to the Tax Authority. If you continue to process transactions after the cancellation date, you will need to select No Tax code for all transactions.

If your business ceases or you stop trading you need to consult with your Tax Authority or Accountant, since there may be some specific requirements with regard to the keeping or disposing of assets, etc. and your final VAT returns and payments.

The following procedure needs to be followed in the case of Cancellation of Registration (if you do not stop trading):
Process all your transactions and post or update Batches (and post or update Documents (Invoices, Credit Notes, Purchases, Goods Returned documents if you are generating Documents)) to the Ledger, which is applicable to the period of the registration until the date of de-registration or cancellation of registration.
Registration Number - remove your VAT Registration Number in the Tax Reg. No. field on the Setup - System Parameters - Company Info (Address tab) menu option.
Select the last next day after the Date on the de-registration-certificate or notice. Tax Accounts - VAT Accounts - in the Edit - Accounts - Tax Accounts menu option. You need to check that the effective dates (from and to) and that the percentages, which apply to Tax Codes, are correct.

 

If you are trading in Stock Items, you also need to:-
Documents - Click on the Setup - System Parameters - Documents menu option (Invoices tab) and remove the word Tax before the word "Tax Invoice" in the Document Heading.
Stock Items - If you are using Stock Items, you need to select the No Tax code for all your Stock Items (Input and Output Tax fields) on the Edit - Stock Items menu option. Once again, you need to make sure that all of your Documents (Invoices, Credit Notes, Purchases, Goods Returned documents) for the period before your de-registration date is updated or posted to the Ledger.