VAT pre-payment - where to log?

Hi
I need to know where to put VAT pre-payments on account (to HMRC) so they automatically come off my VAT Return.
I don’t think logging them as Purchases will work…
Or should I just input a manual Adjustment on the actual Return itself? Would that be OK for HMRC?
Please advise in layman’s terms!
Many thanks

If you log the payments going out as vat. Then when you run your vat returns and submit the amount owed it will reduce what the vat nominal balance is.

No need to do anything else.

Thanks for your reply, Paul but sorry I’m still none the wiser. I’m really new to this - can you tell?!

I’m thinking that maybe I need to link my bank account first (which I haven’t done yet as mildly worried that this is OK) and then log the specific payments as VAT. Am I right?

Cheers!

Yes of course. Sorry but I assumed you had a running list of Bank transactions.

I’d advise you do this before anything further or you’re really going to come unstuck with other stuff as you go along.

Brilliant. I’ll link it up asap and go from there.

Thank you so much for taking the time to respond!

Hi Paul

Sorry to bother you again.

I have imported the bank statement, selected the VAT payments on account, clicked ‘Tag me’, clicked ‘Tax payment to HMRC’, and chosen ‘VAT’ as the type of tax being paid for all three.

Nothing is automatically coming off when I create the VAT Return report though.

Is there something I’m not doing correctly?

Many thanks

Hi @CaraLlama

Nothing will show on the VAT return, it will be on your balance sheet.

If you view your balance sheet report, you should see this figure on there. Once you submit your VAT return, which will then update to the correct amount on QuickFile, and HMRC will do their own calculation which will be available on their website.

Hi @QFMathew

Thanks for getting back to me about this.

Just to 100% clarify before I submit the form to HMRC, I’m going to submit the VAT Return Report with this year’s full amount of VAT in the ‘NET VAT to be paid to customs’ row, without any payments on account, and when received HMRC will reduce this figure in line with their own records of what I’ve paid on account. Then I can go into my Gateway account and pay the remainder.

Right?!

Yes in theory that is correct. They should do that. Always check what you have on Account with what they say you owe to make sure they are right.

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