I had intended using QF Bridging to e-submit my VAT returns however given this is not really free after the first submission (need to be a Power User?) I’m now thinking I should go for QF Accounting which supports e-submission of VAT anyway. My sole trader business is small woodland with very few purchases and even fewer sales (once every 30 years!). What do you recommend and what is cost? Alan
If you do your accounting through QuickFile then QuickFile can populate the VAT return for you - the account will remain free if you create less than 1,000 ledger entries within a 12 month period.
I recommend taking a look at the following guides and checking out the ledger count, so you can see how this is broken down for your account:
- Account size explained
- How to determine what items make up your ledger count
- How do I check the size of my account?
I hope that helps.
Thx again Beth. Sounds like the QF account I opened yesterday (with help from you and Mathew) will allow me to make sales and purchases entries, link my business bank account and e-submit my VAT returns…and for Free given I’ll have very few entries.
Should I activate the bank feed option?
Is the date I start using QF for e-submissions the last day of my VAT period or the actual e-submission date for that VAT return?
Alan
The VAT periods should have been set by HMRC so you would need to double check when your periods run and make sure that your VAT settings reflect this.
It is your choice whether you want to activate the bank feeds. I believe there should be a free trial you can try before you purchase and comit
Thx Beth. Does the Free QF Accounting package which I think I’ve got, include bank feeds or is this an add-on feature which I’d have to pay for?
Regards first VATe-submission date I put field…I’m just not sure if I enter 31st Dec (end of my VAT reporting period) or maybe 5th Jan when I actually submit?
Alan
The bank feed subscription is £15+VAT per year.
If you are submitting your returns through MTD then the periods will be set for you. You just need to make sure that your start date is set correctly within your VAT settings
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