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This article applies to:

  • Product: ONESOURCE Indirect Tax Compliance

Company Information - P

The
Company information
 (
P
) sheet is a standard sheet that appears by default in all calculations. It contains the following:
  • Company Information – This is relevant to filing the return, such as Company name, Address, VAT/Tax number, signatory, period and year of return, and the VAT year end.
  • File Information – Contains details for the period of the return, filing dates and type of company. You must enter a previous VAT year end in order to clear the red error.
  • Consolidation Information – Includes details on whether or not the company is a member of a group and whether or not it is the signatory member of that group. These settings can affect the rounding of the return depending on whether or not it is part of a group.
  • Calculation Options – Here you can set
    Partial Exemption
     settings such as whether to report annual adjustments and carry forward options, rounding tolerance, and whether or not to include irrecoverable VAT in the net amount.

Data Flow

If a computation contains a Facsimile Return, then data from the
P
 sheet flows here.

Developing the Schedule

The
Schedule P
 is a master schedule and is present in every file.

Completing the Schedule

For the first relevant period, you are required to enter details on this schedule. The information is then carried forward to subsequent periods. The details required are:
  • Company address
  • Name of signatory
  • VAT registration number
  • Request for VAT reimbursement
  • Request for payment forms
  • The previous VAT year end
  • Overpayment and repayment information (bank sort code etc.)
Various selector flags control the setting of some of the cells and should be changed according to the circumstances of the company. For example, in periods when the company file is a member of a VAT group, the selector for
Is the company a member of a VAT group?
 should be set to
yes
. You then need to complete the following:
  • VAT group file name
  • Is the company the representative member of the VAT group?
If the company completes monthly VAT returns and then consolidates them into a quarterly return, this selector should be chosen.
There are also selectors regarding
Partial
 exemption calculations and
Display of Tax
 codes, which should be selected as appropriate.

Standard Sub-schedules

There are no standard sub-schedules for this schedule.

Carry Forward

On carry forward, this schedule is automatically present.

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