Is it allowed to rollback submitted VAT to insert missed purchases after it is submitted as MTD?

Is it allowed to rollback submitted VAT to insert missed purchases after it is submitted as MTD?

Is it smart to do it as will change total expense to expense amount declared in VAT return?

Thanks,

Hi Dan,

I would not recommend it as it will throw your VAT returns out of sync with what HMRC have and will affect payments etc. You should be able to do an adjustment with your next return. If you are wanting to resubmit to HMRC then it would be worth contacting them.

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If you just enter the extra purchases (on their original dates) without rolling back the return then they’ll be included in the next return automatically. You only have to notify HMRC directly outside of the usual return cycle for deliberate errors, or for accidental errors that result in you underpaying VAT by £10,000 or more1 (either by failing to report sales or by claiming back too much on purchases). In your case you’ve overpaid VAT in one quarter so you just correct things in the next quarter.

1 or £50,000 if that’s still below 1% of your box 6 total

Can I change date of the invoice from November to October 2018 to correct one that will enter as expense in corporation tax return? Or will also create issue so better to avoid informing HMRC about changes…

If a transaction is locked by the VAT return then you won’t be able to change the date. You can enter a credit note for the incorrect date and invoice for the correct date as another way to correct it if you need to?

Similar to the original question, I rolled back a submission in order to add a couple of payments that had been omitted. I thought I’d then be able to resubmit, but can’t. I now understand that the corrections will happen as part of the next quarter’s submission, but am unsure of leaving a return as rolled back in QuickFile, even if I’ve gone ahead and paid the VAT per the original submission. What should I do?

Hello @Mark_Davies1

You need the create and save the return you submitted so the transactions are reconciled.

You can do the below

  • Remove the extra purchase(s).
  • Go into Reports > Vat Returns > Settings.
  • Change the HMRC account to “No electronic filing”.
  • Recreate the return (which should match the submitted figures) > Save.
  • Go into Reports > Vat Returns > Settings.
  • Change the HMRC account back to your company.
  • Add the extra purchase(s).

The old return will show as saved in you vat returns screen.
The purchase will be picked up on the next return.