Hi, I’m new to QF and trying to submit my first VAT return on the flat rate scheme (I’ve done it before manually). I know this question has been asked before, but I’m struggling to understand the answer.
As far as I understand, I need to pay the flat rate of 16.5% Vat on all my sales INCLUDING (standard 20%) Vat - as entered on my invoiced. BUT in the Vat Return generated automatically for me by QF, it only shows my turnover EXCLUDING (standard 20%) Vat - despite box 6 saying it should include Vat.
Is this an error? Will it be adjusted when the return is submitted to HMRC? Or do I need to adjust it manually, and if so, how?
Have you switched on the flat rate mode in your QuickFile VAT settings? Box 6 is ex VAT on normal accounting, it’s only inc VAT on the flat rate scheme.
The other possibility is that it is calculating correctly but not including all the invoices you think it should, for example if you’re on cash accounting then it only counts invoices that were paid during the quarter, not ones that have been raised during the quarter but not yet paid. The download calculations or “export” button (there are two versions of the VAT return form) should give you a CSV detailing exactly what QuickFile thinks is included and how it calculated the box values.
Thanks Ian, you’re exactly right! I just checked the CSV of the calculations and it’s only showing about half the invoices. I did them all together retrospectively today, all within the dates for the VAT Return period, so I’m not sure why some of them would’ve registered while others haven’t. Any ideas about how to fix? Thanks again for your help.
Which ones are missing? The earlier or later dated ones? Do you have a VAT start date set in your settings (it won’t include anything from before this date)?
4 earlier ones and 1 late one - but they’re all between 1/7 and 30/9 - which is the quarter I’m trying to pay. I tried playing with the dates on the Return to see if a refresh would help but it still doesn’t pick them up. As far as I can tell, all the invoices are the same and I created/marked them as paid all at the same time…
Cash or accrual accounting, and if cash accounting what is the date of the payment? It’s not simply a case of the invoice date falling within the quarter and the invoice being marked as paid, it has to be paid by a payment (or payments) whose date falls within the period.
The other possibility is if any of them have been marked exempt or out of scope.
Ok, I’ve been having a click around and it looks like some of the payments have been logged as being on the same dates as the invoices and some from today - which are the ones that aren’t registering as you say. I don’t know why this is as I did them all at the same time. But do you know if I can edit the payment date to put them back in the Return period? Thanks
Ah, I think I’ve figured it out. I was able to go to the bank account page and edit the payment dates in there, which means all the entries are now showing.
This shouldn’t be a problem going forward as I’ll log them as they come in rather than retrospectively.
Thank you so much for your help - would never have sorted it without you.