How do I link my account to the my gov gateway account for paying vat quarterly? The option that are available are different to my accounting period.
Hello @S_Elorfi
Have you linked your HMRC account for VAT in the Reports > HMRC screen?
Once connected we read the vat returns and periods from the account.
One gotcha is that while HMRC always talk about vat quarters in terms of the month ending, QuickFile settings ask for the month starting. So if you’re on calendar quarters ending March, June, etc. then in QuickFile you have to select Jan, Apr, … as the quarter start months.
Hi Steve yes iv done that now.
But I am not sure what I need to do next ?
Iv tried filling a vat return but it won’t let. It’s saying “error”I need to file accounting information.
Iv selected cash vat accounting ? Is that the right selection ? I am vat registered on the flat rate scheme. I need to do my vat returns quarterly.
Kind regards
Suhail
You can’t simply enter your box totals into the form to submit your return - under MTD rules the return must be backed up by digital accounting records so QuickFile will not let you submit a return that consists entirely of manual adjustments. You must record your sales (and purchases, but this is less relevant if you’re on flat rate) as invoices in QuickFile and log the payments on the relevant dates, and let QuickFile complete the VAT return box values from that.
Alternatively if you keep your records in another software system then you can have that system calculate the box totals, export its return as a spreadsheet or CSV, and upload that into QuickFile to submit using the “bridging” mode. But again, MTD rules require that there must be an unbroken chain of digital links from the point where your invoices are first recorded in your accounting software right through to the VAT return - no manual copying and pasting or hand transcription of totals.
Cash accounting and flat rate are two separate “dimensions”. Cash accounting means you calculate which invoices belong to which quarter based on the date of payment rather than the date of the invoice - for an invoice dated 30th March that was paid on 5th April, cash accounting would declare the VAT in the April to June return whereas “accrual” or “traditional” accounting would declare it in Jan-March.
Flat rate is about how you calculate the VAT due on each return. You can be on any of the four combinations (flat rate using cash accounting, flat rate using traditional accounting, or not FR on either accounting style). There is a separate setting in QuickFile for flat rate where you can set the percentage rate that you are using.