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louisabroad
Level 1

Have connected MTD and HMRC with QB but can't change VAT rate to submit return from 20% to flat rate of 16.5%, any advice on enabling this so I can submit my return?

 
1 REPLY 1
JessT
Moderator

Have connected MTD and HMRC with QB but can't change VAT rate to submit return from 20% to flat rate of 16.5%, any advice on enabling this so I can submit my return?

I'll be happy to walk you through changing your VAT to FRS, louisabroad.

 

To do this, you'll want to open your VAT settings and enable the FRS scheme. Please follow the steps below:

  1. Go to Taxes.
  2. Click the Edit VAT drop-down list in the upper right-hand corner and choose Edit settings.
  3. Put a check mark next to Flat Rate Scheme (FRS).
  4. Enter the Industry flat rate percentage (16.5%).
  5. Enter your Tax registration date and click Save.

After the steps above, please open your return to see the result.

 

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