So it’s time to file my second VAT return but unfortunately I’m a little bit confused. After my first return I got a check in the post from HMRC, I didn’t however cash this check. Can I deduct this amount from my next VAT return to balance it out? I can see it listed under VAT liability in QuickFile but I see no way to interact with this through the VAT Return page. What can and should I do here? Any help would be greatly appreciated, thanks!
I’m not sure if you can offset this against your new VAT return, I think it would be best to check with HMRC. If it were possible then the next VAT return (assuming you then owe HMRC money) should offset the VAT Liability account so you will likely not need to do anything.
Thank you very much for your reply Glenn! So it should offset the VAT liability after the return has been made, that’s great. I probably should have realized that in the first place but I wanted to be extra careful due to my lack of understanding. Also thank you very much to you and the team for creating QuickFile, this system is awesome and I can’t wait to pay for a power subscription and end of year returns etc once I actually start generating an income
This topic was automatically closed after 7 days. New replies are no longer allowed.