Hi There,
Im looking for some help.
I have reconciled my accounts and my sales report is coming out at £36492.56 TO for the period 1/5/16-31/07/16
However when I run a VAT report, this is showing my TO for the same period to be £64958.
I have looked at the calculations backing this report, and they seem to be dating back to February (which was the last time I submitted using the system)
HMRC are saying that it is only May, June, July that I need to submit for…help!
Are you on cash accounting or accrual accounting for VAT? Are there any gaps in your VAT returns? You mentioned that you last filed in February but was the Feb, Mar, Apr return filed in QF?
It sounds to me like you have transactions brought forward from an earlier period, this would happen if you filed a VAT return for an earlier period then later entered new transactions in that same period or simply didn’t file and lock down the VAT return in QF for an early quarter.