Submitting a Corrective Seasonal Tax Return : Netvisor

This guide covers the process of sending a corrective periodic tax return from Netvisor.

You can start creating a corrective notification by selecting Financial management > Self-assessed taxes > open the desired month for which the corrective notification is to be made (1.).

Open the period if it is marked as ready so that you can later create a new periodic tax return.

Select Financial management > Self-assessed taxes > open the desired month.
Click the link "Mark period as open" (2.).
Make sure that the "Create return" button (item 3) is activated.

If you do not mark the period as open, you cannot create a new periodic tax return.

Next, bypass the VAT lock so that you can make corrective entries for the desired period.

Go either to the VAT calculation page or to Financial periods management.
Select from the dropdown menu the month for which you want to make the VAT lock bypass.
Make sure that the list shows the months of the open and active financial period before the period lock date.
Activate the bypass for the selected month.

After activating the bypass, the view looks like this (in this case, the bypass is activated for October 2020).

When the month is open, you can make the necessary entries and changes for the month.

Bypassing the lock invalidates the previous VAT entry voucher.
The lock must be canceled and the value added tax recorded again in order to enforce the lock and create the VAT voucher.
The same rules and principles apply to the VAT calculation as to a normal VAT calculation entry.
Once you have recorded the value added tax, the voucher is again created normally.

If the changes had an impact on value added tax, create a corrective periodic tax return.

Select Financial management > Self-assessed taxes > open the periodic tax return for the desired month.
Make sure that the "Create return" button is active.
Press "Create return" and create the corrective periodic tax return.

Send the notification from the Self-assessed taxes submission view.

Select Financial management > Self-assessed taxes > Self-assessed taxes submission.
Select the corrective notification for the month to be corrected.
Fill in the required information and send the notification.

The correction notification completely replaces the previously sent notification.

The changes in correction reporting apply to the following:

Correction of value added tax
Correction of employer contributions
Correction of annual returns

When sending a correction notification, "Reason for correction" is mandatory information that must be provided with the correction notification.

When sending the correction notification, select the reason code defined by the tax authorities.
Make sure that some reason code is selected so that the notification can be sent.

The reason codes defined by the tax authorities are:

Calculation error / return completion error
Guidance received in tax audit
Change in legal practice
Error in legal interpretation

Without a reason code, the correction notification cannot be sent.

If necessary, create a new bank transfer if additional tax needs to be paid.

Select Financial management > Self-assessed taxes > open the desired month.
Find the heading "Created bank transfers".
Enter the date, bank account and new payable amount.
Press "Transfer to payment view".
When the bank statement arrives in Netvisor, let the system automatically create a voucher for the payment.

Finally, mark the period in question back as ready.

Frequently asked questions

Question: Where do I start when creating a corrective periodic tax return in Netvisor?

Answer: Start by selecting Financial management > Self-assessed taxes > open the desired month and mark the period as open so that you can create a new periodic tax return.

Question: Why do I need to bypass the VAT lock?

Answer: The VAT lock bypass is needed so that you can make corrective entries for a locked month. The bypass invalidates the previous VAT voucher, and the value added tax must be recorded again so that a new VAT voucher is created.

Question: Does the correction notification replace the previously sent notification?

Answer: Yes, the correction notification completely replaces the previously sent notification.

Question: What information is required in the "Reason for correction" field?

Answer: You must select a reason code defined by the tax authorities, such as "Calculation error / return completion error" or "Error in legal interpretation". Without a reason code, the correction notification cannot be sent.

Question: What should I do if, as a result of the correction, additional tax needs to be paid?

Answer: Create a new bank transfer from the Self-assessed taxes tab by opening the desired month, entering in the "Created bank transfers" section the date, bank account and new payable amount, and transferring the payment to the payment view.

Question: What happens when the VAT lock is bypassed?

Answer: Bypassing the lock invalidates the previous VAT entry voucher. The lock must be canceled and the value added tax recorded again so that a new VAT voucher is created and the lock is enforced.

Keywords: Corrective periodic tax return, VAT return, VAT return correction

This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.

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