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VAT rollback question

Hello…Please can someone help…I am on the Flat rate scheme, and just finished the 1st 12 month bonus rate of 13.5%, so need to amend to 14.5% in the settings…I had already submitted a return at the lower rate, so have rolled that back…Now I cant run a new calculation at the higher rate…I have amended the percentage in my account settings, but it doesn’t change the figures…thanks for you help, regards, Matthew

Hi @mfarmer

Just to confirm - you’ve rolled a VAT return back, and re-run it for the same date range, but the figures are remaining the same?

Was the incorrect VAT return submitted to HMRC, or was it only saved on your QuickFile account?

Hello, thanks for responding…I have submitted the return using the incorrect (lower) percentage…so I have rolled it back…I gather I cant recall the incorrect calculations from HMRC, I have to adjust it and top it up next quarter…

ahhh okay…I think I have re-run the calculation now using the correct percentage…It would appear I needed to un check the enable online filing check box, and set the date period…How do I advise HMRC for the next quarter that I need to top up my VAT payment ?

Yes, that’s correct - rolling it back will only affect QuickFile.

With the error, it depends on a few things, but HMRC have a handy guide here: https://www.gov.uk/vat-corrections.

It may be that you need to let them know now, or they may accept you manually adjusting your next VAT return, depending on the value.

Thanks for your help, I think I am sorted now…I’ve read that in box 1 I can make the amendment, which is only a couple hundred pounds, so no need to contact them at this stage…Many thanks for all your help

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