Fact Sheet: Return of Trading Details (RTD)

A Return of Trading Details (RTD) is a statistical return that summarises sales and purchase figures and their associated VAT.

It’s a return that every VAT-registered person must file after the end of their accounting period. It is always due on the 23rd of the month following the end of this period.

The RTD looks for information on four key points:

  • Supplies of goods or services
  • Acquisition of any goods or services from the EU (including Northern Ireland)
  • Purchases of any goods or services for resale
  • Purchases of any goods or services not for resale, but on which VAT paid can be claimed as an input credit

It is crucial that the RTD reconciles with VAT returns made to Revenue in the period that it covers, as inconsistency can result in the RTD being rejected. Discrepancies could even result in a decision by Revenue to audit the business.

As Revenue explains, when a customer files a claim for a refund under any tax-head, the refund will be withheld if there are any outstanding RTDs from the previous 12 months. Revenue might also refuse to issue tax clearance certificates whilst an RTD is still outstanding – so it’s important to file the RTD on time.

When we look after a client’s VAT, we can also take care of their RTDs. We offer a no-obligation introductory meeting where we can discuss the accounting services you require and how our team can help you.

Click Book Meeting Now below to quickly set up your meeting today through our easy-to-use online booking system.

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The Fidelia Team

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