Quarterly VAT returns

My first VAT return is September. I asked HMRC and they stated it was up to the 30 of September, but Quickfile suggests that it’s up to the 31st of August.
I have submitted up to the 30 of September. Should I rollback and resubmit?

Hello @ScrumpyJack

If you’ve submitted it for the period HMRC have requested, then that’s fine - no need to roll it back.

It does sound like one of the settings needs tweaking on the account. If you go to your VAT settings (Reports >> VAT Returns >> VAT Settings), there’s an option to specify your VAT period. I would just double check this one if QuickFile is suggesting the wrong period. Note that the setting is “Month commencing”.

Hope that helps!

The plot thickens.
My VAT registration ack letter was dated 9th of July, so I started collecting VAT from that date.
On the 9th of August I’m sent a certificate of registration that tells me my effective date is 1st of August.
I’ve called HMRC and they tell me I need to give the VAT collected before the 1st of August back, which is fine.
I guess I need to rollback?
Can I just return the VAT collected before the 1st of August and amend the VAT return?

When you roll back a return on QuickFile, it doesn’t undo anything sent to HMRC. But for the purpose of accounting, rolling the return back, amending the dates on your account, and re-running it, should produce the correct figures. If you haven’t already submitted it to HMRC, you can do so through your account.

However, it may be best run past an accountant (I’m not one) just to be safe.

Ok, I see. HMRC tells me I need to fill in VAT form 652.
I’ll give that a shot.

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Yes - for the benefit of any future searchers who find this thread: if you’re registering for VAT because you first hit the turnover threshold in the 12 month period up to (any day during) month X, then you have to submit your registration to HMRC by the end of month X+1 and your effective date of registration (the first day on which you have to charge VAT) will be the first of month X+2 (HMRC ref). In your case it sounds like you hit the threshold during June, sent in the registration in July, and had an EDR of 1st August.

If you’re registering voluntarily while trading below the threshold then you can choose your own EDR.

I registered voluntarily as soon as I started the company.

HMRC suggest making a record as soon as I discover the error. How do I record and dcorrect this in Quickfile?

I have rolled back the VAT return submitted, but my only option is to resubmit a new tax return. Can i save the return without submitting?

You could make a journal entry, or upload a document to your account, but there isn’t a specific way of recording an error as such. You may wish to consult with your accountant on this one to ensure it’s recorded correctly.

Providing the “Submit return to HMRC” box is unticked, the return won’t be submitted again. Even if it was submitted on accident, HMRC will likely reject it because it would be for a period that’s already been filed.

So now I have paid the VAT return, but it’s more than the current VAT statement (due to my error above). How do I record that in Quickfile?

You would record the payment the same as you would any other time, as when the next payment is made, it should then balance out.

Click on Tag Me! >> Payment to HMRC >> Select VAT.

It’s likely to appear on your balance sheet until the correction is made.

As I mentioned above, I would double check with your accountant to ensure this is correct.

I made a similar mistake and when I looked I think is because of a slight difference in the ways that I read the VAT periods referred to in QF vs HMRC. My last report ended 30th Sept, but in QF I had put in that the cycle was Mar/Jun/Sep/Dec - missing the little text that shows that I need to select the start of the period rather than then end on QF so the correct values are Jan/Apr/Jul/Oct.

I’ll leave it to professionals to work out how to correct the numbers.

To be honest it would have been simple to correct the error without rolling anything back.

But it’s done now so the best option moving forward is to keep everything as it is.

Work out the difference between what was submitted and what wasn’t on your first return.

Add these additions to the next vat return you submit under adjustments.

Make a note of what happend and keep it safe.

Hmrc are perfectly happy to accept this method of correction, I believe any correction made this way is allowable upto 10k of vat before any special forms need to be completed.

Don’t waste your time with correcting a submitted return because you can’t.

Great topic - just sharing my thoughts.

Rollback and resubmission is not the desirable method. It will simply create more admin work. Net effect would be the same. (depending on cash or accrual)