First VAT return queries

Hi,

I’m just about to file my first VAT return. I’m on the flat-rate scheme, and have been paying a fixed amount monthly by direct debit.

There’s not mention of what I’ve paid to date in the calculation. Will HMRC do this, and I’ll pay the difference, or should it be in the return I send somewhere?

Secondly, I need to adjust my flat-rate applied, now that my 1% first-year bonus is up. What is the correct way to do this, please?

Thanks,

Iain

You need to update flat rate % under VAT Settings under reports menu.

Any payments you have done or outstanding wont show in vat return, that is some thing you have to keep record yourself. If you have done entries in QF then 2202 VAT Liability should show you balance

Thanks for the reply. I’ve now submitted my return!

When I change my flat rate %, should I change the VAT filing date as well, so the new flat rate is applied from today?

Cheers,

Iain

Quick File doesn’t support more than one flat rate % in a single return. If you have a split period then you would need to apply your own adjustments to the VAT return for that month you are in transition.

EDIT:

Sorry… As it’s your first return this isn’t the case for you. I’ll leave it there just in case it’s relevant to anybody else.

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