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Generate VAT Return

Create your VAT return with a single click using your imported transactions. The system calculates all L1-L31 DIR form fields from your reviewed and categorized transactions, ready for your final review before submission.

VAT Returns Demo​

Prerequisites​

Before generating a return:

  • All transactions for the period are imported and their VAT categories have been reviewed
  • Categories have been reviewed for accuracy
  • No unresolved critical compliance alerts

Step-by-Step Guide​

Step 1: Select Period​

  1. Go to VAT Returns
  2. Click Generate New Return or select a period
  3. Choose the return period (month or quarter based on your filing frequency)
  4. Review the date range

Step 2: Review Summary​

The system displays:

  • Total sales by VAT category (Standard, Reduced, Zero-Rated, Exempt)
  • Total purchases with input VAT claimed
  • Calculated output VAT
  • Calculated input VAT
  • Net VAT position (payable or refundable)

Step 3: Validate​

CoralLedger Comply flags potential issues for your review, including:

  • Uncategorized transactions
  • Unusual patterns or anomalies
  • Missing documentation
  • Mathematical accuracy
  • Consistency with prior periods
Compliance Alerts

Address any compliance alerts before finalizing your return. Critical alerts will prevent submission.

Step 4: Generate Return​

  1. Review the final summary including all L1-L31 line items
  2. Click Generate Return
  3. The return is created in Draft status

Step 5: Export​

Download your return in multiple formats:

  • PDF — For your records and client presentations
  • XML — DIR submission format
  • Excel — For detailed analysis
  • CSV — For data import into other systems

Making Corrections​

Before Submission​

If you find errors in a Draft return:

  1. Correct the underlying transactions
  2. Delete the draft return
  3. Generate a new return

After Submission (Amendment)​

If errors are found after filing:

  1. Navigate to the submitted return
  2. Click Amend
  3. Make corrections to the affected line items
  4. Submit the amendment
  5. The return status changes to Amended

By Statute References​

Next Steps​