My current VAT periods are Feb, May, Aug, Nov. I’ve completed my current due return for the quarter ending in October.
I have now asked HMRC who have confirmed new periods which will be Mar, Jun, Sep, Dec. I guess this will come into effect after the current quarter as my account says my next return is due for December to January.
I can see how to change the periods in QF. At what point do I need to do this? If I do it today it would upset the current period, I assume.
Will then have a one month period, February for the period March, or four months, February to May for the June period to get me in sync?
[BTW, I’m now doubting I’ve selected the correct new periods. The plan is to align VAT and accounting years. I did this with my accounting year running May to April, I’m confusing myself with the months you are reporting and the date you pay. Which is the ‘period’, the last month in the quarter or the month you’re due to complete the return?
I’m changing my accounting year to align with the tax year so want a VAT quarter which ends on 31 March. So Mar, Jun, Sep, Dec is correct?]