Mistake in my VAT return

Accounting
1

Hi, I am Vat Registered, and I zero rate a lot of my invoices. I have submitted my VAT return, only to find that I have put some invoices through with a 20% vat amount, that should have been zero. Thereby claiming money I shouldn’t have done. How do I put this right? I have tried to put a credit note through with a minus amount, but it doesn’t change my vat return.

2

Hello @Glynsteve

Under MTD VAT rules, once submitted a vat return can not be amended.

Any corrections you make will be picked up in the next period.

3

Hi, Yes I know that, but if I wont to put it right, how do I do it?

4

Hello @Glynsteve

You would credit off the incorrect invoices (using the same values to reverse them) and recreate them with the correct figures.

e.g.

  • Invoice 001 - £100 net, £20, vat 20% - reported on first return
  • Credit Note 001 - £100 net, £20, vat 20% - reported on second return - reversed what was reported
  • Invoice 002 - £100 net, £0, vat 0% - - reported on second return - reports correct figures
5

Thanks I will try that.

6

Thanks, That did the trick. All sorted.