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Avoid a SARS assessment! How to complete your Vat return in 13 easy steps

by , 21 July 2015
A Vat return is a legal and binding document. So you're telling SARS that whatever's on the form is 100% true and accurate. So you'd better make sure it is!

A high number of Vat returns are put under review by SARS each year, because they're submitted incorrectly or were incomplete.

So you need to make sure your VAT201 is 100% correct. Or SARS will select you for an audit, delay the entire process and penalise you.

Here are 13 steps to help you correctly complete your VAT201 return to avoid a SARS assesment.


Panic will cost you as much as ignorance when it comes to the Review VAT201 Declaration Letter

Panic – like ignorance – is a huge mistake. One most people make when that dreaded pop-up letter pops up on their screens.

Because in most cases, when they panic they upload all their company documentation to SARS in a feverish attempt to justify their Vat returns to it.

Now by doing this, you literally welcome SARS to audit your company! The things it wouldn't take into account would now stare it in the face… With your help!

Dee's seen it happen with her own clients. That's why she created That dreaded SARS Vat pop-up letter ANTIDOTE.

Click here to know exactly what to do to ensure your money is safe.


Before you start completing your VAT201 Declaration, you need to read the General Rules for Completing a VAT201 Declaration on SARS website. So you avoid SARS rejecting your VAT201 form for being incomplete or for silly errors.

Once you've done that follow these 13 steps to complete your Vat return.

Step #1: Calculate your output tax, based on total sales at the standard rate.

Step #2: Calculate your output tax on capital goods sold.

Step #3: Put the total zero-rated and exempt sales on the return in columns 2 and 3.

Step #4: Put the total amount received for accommodation exceeding 45 days, in column 5. Calculate 60% of this amount, in column 6.

Step #5: Multiply the total by 14%.


Save your business from penalties by being an instant VAT201 expert!

Can you really afford not to be 100% sure about your Vat return? Just one of the tips you'll find in the VAT201 E-report: The comprehensive guide to completing your Vat return correctly and the bonuses could save you from a painful Vat audit and thousands of Rands in penalties.

By the time you're done, your Vat consultant will be asking you for advice!

Click here to learn more on completing your Vat return correctly.


Step #6: Complete the sums for your output tax.

Step #7: Put the amount of Vat paid for capital goods, in column 14.

Step #8: Put the total amount of Vat paid for all other goods supplied to you, in column 15.

Step #9: Put the total amount of bad debts written off.

Step #10: Determine the sum of input tax, based on these figures.

Step #11: Deduct the total input from the total output.

Step #12: Calculate any penalties and interest you owe SARS.

Step #13: Calculate the total amount you owe SARS.

Check and re-check your calculations. And make sure you're using the right Tax period, the right Vat numbers and the right Vat calculations.

P.S. If you order your copy of the VAT201 E-report: The comprehensive guide to completing your Vat return correctly NOW you'll get four bonus reports, worth R800 , absolutely free!

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