Flat rate VAT on QuickFile

Hi all,
My one man company has been registered for VAT. I am wondering are there users who are handling Flat rate VAT themselves or seeking an accountant’s help is the way to go?
Many thanks for your help.
Solar

QuickFile will do most of the leg work for you. You would create your invoices as normal with the standard rates of VAT (e.g. 20%).

When you file your return QuickFile will calculate your Flat Rate Turnover and apply your lower Flat Rate percentage (e.g. 13%) against this figure. You can then review your VAT return, download and check a backing report (i.e. to see what is making up the totals) and submit electronically to HMRC.

I will leave this thread open for anyone else to comment.

Thanks Glenn. Couple of questions:
1.If my compnay has been registered for VAT from 18th July, then what do I need to select in 'Vat Period (Month Commencing?
2.What do I need to fill-in ‘Vat Filing Start Date. This is the date you want to start
using Quick File for your VAT Returns’? 18th of July or 18th of October (when first return id due).
3. Whar VAT procedure version (1 or 2) do I select.
Many thanks for your help and for leaving the thread open.
Kind regards,
Solar

  1. You should be able to set your VAT start date (Found in VAT settings) and first VAT return start date to 18th July. This will ensure no prior items are picked up and included on the VAT return.

  2. I would suggest 18th July, but I would always recommend you run this by your accountant first and at least check the backing report before submitting.

  3. Use version 2, it’s the newest set of VAT procedures. It probably won’t make any difference unless you’re filing EC Sales Lists but in general it’s better to use the latest.

Thanks Glenn,

  1. What is is the Branch Number box for?
  2. What is the Enable Online EU Sales Filing? I do sell my services to EU clients.
    Many thanks,
    Solar
  1. The branch number will be stated on your VAT certificate, it’s usually 0 (zero).

  2. You can tick this box if you make sales to clients based in the EEC and would like to file an EC Sales List electronically to HMRC from QuickFile.