ok so my start date for vat was the 01/08/2023 so i have started accounting for vat with quick file from this date but the company has run since April 2021 with in that time i have bought tools and equipment that i will now claim the vat back on as i still have these and they are only used for business use. so what i have done now is gone back through all of my purchases and changed them to show vat but only for items that i plan to claim the vat back on will quickfile automatically bring these forward or do i have to add the value on to the quick file figure at point of filing kind regards Nicky
They won’t pull through automatically because QuickFile ignores anything before your configured VAT start date - to include them you would have to set your start date way back but that would inflate boxes 6 and 7 because it would include the all your old sales and purchases too as if they were zero rated.
Cleanest would be to do a manual adjustment for the pre registration purchase VAT and then journal things to the right places afterwards. That’s how I did it when I registered.
1 Like
That’s the correct way to do it, as otherwise you change previous years’ accounts, which have already been filed/had tax paid on.
This topic was automatically closed 14 days after the last reply. New replies are no longer allowed.