Group VAT liability

Question

Hi, I&rsquo;m hoping someone may know the answer to this. 
 the company I work for recently went Group VAT registered (x3 companies) 
 I was told to raise the VAT returns in x2 of the companies & make the adjustment on the &lsquo;holding&rsquo; company and send off just one return. 
 However, since doing this there is now a liability sat on the VAT accounts. 
 if I post the payments/receipts between the companies will this rectify the issue? Or is there a journal entry I should be doing? 
 Thanks

Sean White · Answer

Hi Lucy, 
 Thanks for using Sage City. 
 Apologies for the late reply to this. We changed over Sage City and some queries were missed by mistake. 
 You may have already found an answer to your query but if not, to do a group VAT return you would calculate and reconcile the VAT returns in each company individually. Then you can use the MTD Module to group them and submit them. You may have to contact us to get this module added on first. 
 If this has answered your question please click More > Verify Answer. 
 Kind regards, 
 Sean, Sage UKI

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Group VAT liability

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