I’ve just recently imported transactions for a previous quarter already filed with HMRC (imported as we wanted to have a full financial year in one system). On checking everything, I noticed that the EC Sales List and VAT Return boxes 6-9 values could differ by a pound from the values already submitted directly on the HMRC website.
Looking closely at the “Download Calculation” report, all the transactions were correct. What appears to be happening is QuickFile is rounding the values for the EC Sales List and VAT Return boxes 6-9 differently to how HMRC recommends.
“Notes to help you fill in your VAT EC Sales List (VAT101 notes)” at the link below, states “Total value of supplies and the indicator box. In all cases, enter the total, rounded down to the nearest pound sterling.”
And again “round the pence down to the nearest pound”.
Also when you summit a VAT Return on the HRMC website if you enter values with pence in boxes 6-9, these are always rounded down to rounded down to the nearest pound.
What QuickFile seems to be doing is rounding 0.5 and higher up. So a value of 100.69 becomes 101 when it should be entered as 100.
I don’t believe HMRC will care if the figures are out by a pound, but I thought I would report it anyway.