VAT Return two companies one number

[tjc]

Hi, we have changed from a sole trader to a limited company and have transferred our VAT number. How do I file the tax return for both companies? Can I import figures to the Ltd company from the sole trader?

[QFSteve]

Hello @tjc

When you move from Sole Trader to Limited Company, have you set up a new QuickFile account?.

You must do this as the limited company is a different legal entity.

You can then do the submissions from the respective accounts.

[tjc]

Hi Steve

We do have two Quickfile accounts, if I submit from each account will HMRC tie the two together?

[QFSteve]

Hello @tjc

That would be a question for HMRC.

As far as QuickFile goes it would allow you to submit from 2 accounts with the same VAT number.

[tjc]

Hi Steve

Unfortunately, this did not work. It would only let me submit one return. Please advise.

[QFSteve]

Hello @tjc

Was it for the same period?

You can only submit 1 vat return per period per vat number

[tjc]

Hi Steve

Yes it was from the same period as the accounts had some transactions that overlapped. How do I rectify this?

[QFSteve]

Hello @tjc

I would speak to HMRC first.

What date was on the VAT 68 form?

Anything prior to that would be from the sole trader account, anything on or after would be limited account. But ultimately, HMRC is dictating the periods and what they’re expecting, not us.

If the data does cross the two periods (e.g. Sole Trader ends on 31/07, Ltd starts on 01/08), you could just manually adjust the next return, attaching a backing report from the Sole Trader account as evidence.

[tjc]

Hi Steve

Thank you, how do I attach a backing report?

[QFSteve]

Hello @tjc

When you generate a return and add adjustments, you will see an option below it similar to this

You can browse and select backing files to prove your adjustments.