Form 303 is used for self-assessment of VAT and can be filed on a monthly or quarterly basis. If you choose the latter option, the return for the fourth quarter of the year must be filed before 30 January.
If you choose to file quarterly returns, bear in mind that you can pay the tax up to the 20th of April, July and October.
If you want to know more, read this article published in the Accounting section of the Holded blog: Form 303, instructions on how to fill it in.
Lastly, remember that to access the forms you have to:
Go to the Accounting section and click on Taxes.
In the Upcoming taxes panel, click on Show all.
Access the model you want.
Clarifications on the boxes
The VAT accrued and input VAT boxes will be completed with the sales and purchase documents that have been created during the year.
In each of these boxes, the amounts of taxable income and VAT will be accumulated according to the corresponding VAT rate. If you need to add or delete an amount, you can edit the box manually.
The boxes relating to the Quotas to be Offset (no. 110, 78 and 87) are automatically completed based on the results of the previous return and the current return.
Clarifications on the results
If the result of the VAT return is positive, the professional or company must pay the tax authorities. However, if the result is negative, the payment will be made in reverse. In this case, you can ask the tax authorities to refund the money or offset the result in subsequent tax returns.
If the result is negative, you can indicate whether you want a refund or compensation by clicking on the wheel next to the name of the tax form.
If you select the option Offset, this means that the negative result of the previous period will be offset in the next period's settlement. Please note that this information is detailed in box 110 of form 303.
If you select the Refund option, it will not be offset, so the following period's tax return will not include this information.
Tips to avoid mismatches
Click on the Update button on the form every time you want the boxes to be included and recalculated with the information from the new invoices.
If you edit any boxes manually, check that the values you entered have been updated.
Complete the boxes from no. 80 to 99 if you do not have to file form 390. If you are under the general VAT regime and you file form 390, these boxes should remain empty, as they are completed in the annual VAT form 390.
Taxes that have been created manually are not included in the form. If, for example, you have linked a 5% VAT tax you have created yourself to your invoice, you will have to change it to the corresponding tax preset in Holded. To do this, access the tax you have created manually from Configuration> Invoicing> Taxes. And, once there, look for the tax you have created at the end of the list, rename it so that you can identify it in the invoices and replace it with the preset tax. If you need to identify the invoices with manual tax, go to Accounting>Taxes.