VAT Return Calculations - Flat Rate

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1

I’m trying to do my first VAT return, and my figures don’t seem to match.

When I run a profit & loss report between the key dates my turnover shows as £36299.14, but when I go into the VAT section, the calculations are being done on flat rate of £33765 (same dates entered in both reports)

I’ll be paying 12% flat rate vat, but dont want to under/over pay…

please advise

2

Are you on cash accounting for vat? This could explain the difference as in cash accounting the VAT return is based on payment dates, whereas P&L is based on invoice dates.

3

Have you had a look at the backing report for the VAT return? Is there anything there that looks unusual to you?

4

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