Frequently Asked Question

If any Box in your VAT Return has a Negative number – please check it. It is very unusual for any negative numbers to be entered onto the VAT Return and it’s very likely to be an error.

All numbers in the VAT Return are normally positive. The VAT Return itself will subtract any numbers that need to be calculate at the amount of VAT payable or repayable (ie Box 3 – Box 4 = Box 5).

So, there is no need to put a negative number in box 4. If you do put a negative number in Box 4, it will increase the amount of VAT you have to pay to HMRC.

It is unusual for a negative number to be in the VAT Return. This will only happen if a large adjustment or credit note is required that is more than the normal transactions that feed into that box. If any Box in your VAT Return has a negative number – please check it to make sure that you mean it to be a negative number. This is very unusual and is very likely to be an error.

Bank Transactions Download to CSV file - Payments given Negative Values

If you have downloaded you bank transactions to CSV file, it is likely that the payments are shown as negative values. This could create a problem with the VAT Return – but don’t worry it is easily solved.

If your payments are shown as negative numbers, then you need to change the values that you link into the VAT Return into positive numbers.

The simplest way to do this is to type “– “ when you link the number to the VAT Return (ie type a minus sign). Therefore type - instead of + or = when you are linking to the VAT Return. This simply turns the – into a +.

And that’s the problem solved.