SAVED VAT Return needs submitting

Accounting
1

Hi,
Managed to do 3 VAT returns, which I’m really pleased with.
However, the larger 1, which is the first one, is sitting at a SAVED state (APR222-JUL’22).
I understanding from other posts, that I am supposed to do a Rollback on this one, but I can’t locate a Rollback option. Can somebody please help?
Thanks,
Dave

2

Hello Dave

Returns have to be processed in chronological order.

You will have to follow the steps below to submit the “Saved” return

  1. Make a note / Print out the figures from the 3 returns.
  2. Open and rollback the 1 Nov 2022 - 31 Jan 2023 return.
  3. Open and rollback the 1 Aug 2022 - 31 Oct 2022 return.
  4. Open and rollback the 1 Apr 2022 - 31 Jul 2022 return.
  5. Go to Reports > Vat Returns > Create .
  6. Generate the 1 Apr 2022 - 31 Jul 2022 return and submit it ensuring the figures match step 1.
  7. Go to Reports > Vat Returns > Settings.
  8. Change the HMRC account to “No electronic filing” > Save.
  9. Go to Reports > Vat Returns > Create.
  10. Enter 1 Aug 2022 - 31 Oct 2022, check the figures match step 1 > Save.
  11. Repeat steps 9 and 10 for 1 Nov 2022 - 31 Jan 2023 period.
  12. Go to Reports > Vat Returns > Settings.
  13. Change the HMRC account back to your company > Save.

The reason for selecting “No electronic filing” in step 8 is that you can not re submit a return, the 2 later returns will show as “Saved” going forward which is normal.

When you recreate the returns, if the figures do not match, make manual adjustments where necessary so the periods match what you have submitted.

3

… and keep a note of the aggregate result of those adjustments, as you will need to apply the same adjustment in reverse to your next return (assuming the adjustments didn’t cancel each other out).

For example if you had to adjust box 1 up by 10 in one return and down by 5 in another, the aggregate adjustment is +5 and you’ll need to adjust the same box by -5 next time. But if one adjustment was +10 and the other was -10 then the aggregate is zero and there’s nothing to correct next time.

4

Thanks a lot,
The figures all matches so I didn’t need to make any adjustments. Was able to follow those steps ok, so all look ok. The first shows as “submitted” and the concurrent 2 show as “saved” as you said it would.
Anyone know how long HMRC usually take to pay the VAT back? I guess with it being my first one, they may query the larger invoices…

5

This topic was automatically closed 14 days after the last reply. New replies are no longer allowed.