Final VAT return on cash accounting & flate rate


I have deregistered for VAT. My final day is today (29/06/20) I am on the cash accounting scheme & the flat rate scheme, my rate is 10%. I have a final return available in quickfile MTD. Can somebody please tell me how to account for unpaid invoices? Seeing as I am on both cash accounting & flat rate I am unsure how to proceed.

Many thanks

Well your first mistake is, you can’t use cash accounting and be on the flat rate scheme. So honestly I think you have more to worry about than your final vat return. Perhaps seek an accountant to get it sorted.

HMRC have allowed me on both & are fully aware. I am on both schemes so don’t see how can’t comes into it.

Oh right. Did you get confirmation in writing from hmrc then? As its quite clear you can’t be on both.

Perhaps you actually mean cash based turnover method.

Yes, of course cash turnover as in VAT on invoices not due until they are paid. I was already on VAT cash accounting when I applied for flat rate & got the go ahead in writing. Mind you they did tel me it approved from 31st december 9999 :rofl: (no that’s not a typo, at least not on my part)

Haha. Typical hmrc.

Basically you have to account for the vat on the invoices not yet paid and the vat on purchases not yet paid on the final vat return. So you can use the adjustment boxes to add the vat from those invoices. Then submit the final return. When those invoices and purchases after have been paid you’ll need to reduce the p and l by the amount of vat again as to not claim it twice. I haven’t had to do this on quickfile before so maybe someone else can advise. But here’s some guidance on whats required.

Yes, thank-you. Just re-read my original post. I don’t think I made clear my problem! I know how to do the calculation & have it all ready to go, my problem is, how do I make the adjustments on the return as the figures are fixed & I cannot alter them. If I click on adjustments a red bar appears to make adjustments but I can’t change or add anything! Most frustrating. I am sure there is avery good reason, I just need to get round it

Does it not let you edit the £0.00 next to the adjustment box?

No, that’s the odd thing, it’s just fixed & won’t let me type an entry.

Think I have done it! I was testing other boxes on amounts due & it let me edit VAT due on sales box (finally!) Thanks for all your help

Yeah, in the top half of the VAT return you can manually adjust boxes 1, 2 and 4 but not 3 or 5 - for those ones the adjustment is calculated automatically (3 = 1+2, 5 = 3-4)

Yes, thanks Ian. I found that out the hard way :laughing: Trying to alter calculations from the wrong boxes!

Yes you can @Paul_Courtier, there is a specific cash accounting scheme for flat rate VAT.

Please read the whole thread before commenting. As we have established that it’s the cash based turnover method.

Apologies. Might I suggest you also clarify the situation before telling people they are wrong. Not everyone calls all the schemes exactly the right name.

Apologies, but I asked for clarification in my 2nd post.

This topic was automatically closed after 14 days. New replies are no longer allowed.