new tax year

Hi jpc4,

The key changes might be the reason why the taxes for 2023-2024 not showing.

One of the said changes is the Income Tax Rates and Bands. From over £150,000 (2022/2023), it is now over £125,140. You can check this reference for the details of the different changes: New Tax Year (2023/24) Guide.

Thus, ensure to meet the new threshold so the taxes for the year 2023-2024 will reflect.

If you have questions with regard to the updates, you may contact HMRC support.

I've added these articles that talk about reporting VAT to HMRC:

• Turn on RTI reporting to HMRC in QuickBooks Online
• Submit a VAT return to HMRC using MTD in QuickBooks Online

Just let me know if there's anything else that I can help with. I'll always be here!

so will it automatically update and show?

Thanks for getting back to us, @jpc4. 

I want to make sure that we provide you with the best resolution to your concern. 

Can you please verify if this is for a standard or advanced payroll? 

I'll keep an eye on your response. Have a good day. 

standard

sole trader

no employee 

 Hello JPC4, so yes if you have payroll and it will auto come into the account, if you have ticked the button on the payroll on HMRC side.

it still not on, 

what should i do ?

Thanks for keeping in touch with us, jpc4.

Let me ensure that the new tax year will show this time.

Before anything else, you'll want to ensure that we've entered the correct tax year, it could also be a reason why they are not showing. 

After confirming the correct entries and still getting the same output, Let's switch on RTI (Real Time Information) you won't have to enter your Government Gateway credentials each time you run payroll or make an FPS submission. I'll demonstrate:

1. Go to Settings :gear:.
2. Select Account and settings, and then Payroll.
3. Select the pencil icon next to Online filing with HMRC.
4. Enter your details.
5. Select Save Gateway credentials.
6. Select Save.

You can also browse this article to learn more about the steps given above: Turn on RTI reporting to HMRC in QuickBooks Online Standard Payroll.

I'm adding this article to provide you resource links on how to effectively manage your payroll and employees in the program: QuickBooks Online Standard Payroll hub.

Fill me in if you have any other questions about QBO Payroll. I'll be around to help you out. Keep safe and healthy. 

not sure this will work,

i all ready have this ticked as i am filling vat returns, also i have no employees,

i am still backdating invoices from22-23 

so would i still be able to do this ?

Hello there, @jpc4. Thanks for getting back to the thread and making a follow-up question.

I'll conform with others and share some thoughts on how you could achieve your goal.

It could be you have not yet set up VAT and MTD for VAT returns. You'll want to set up and use the feature as QuickBooks automatically calculate VAT on your invoice and receipts for easy and accurate filings. I'll show you how:

1. In QuickBooks, go to Taxes and select Set up VAT. Or, go to Get things done and click Set up VAT in QuickBooks.

2. Choose the month you need to start calculating VAT from.

3. Select your filing frequency for VAT. It is how often you will submit VAT returns to HMRC.

4. Choose your accounting method.

• Select Standard (also known as accrual) if you record income and expenses when you send the invoice or receive the bill, regardless if the invoice or bill was paid or not.
• Select Cash if you record income and expenses when you receive the payment or pay the bill.

5. Enter your 9-digit VAT registration number.

6. If applicable, tick the Flat Rate Scheme (FRS) box and enter the percentage and tax registration date.

7. Tick Next and then OK.

For detailed information, refer to this article: Set up and edit VAT settings, codes, and rates.

After successfully setting up the VAT Settings, you can turn on the MTD feature. Follow these steps:

1. Go to Taxes and select Set up MTD.
2. Click Authorise now.
3. Select Continue. Sign in with your MTD Government Gateway user ID and password. It will be in the confirmation email you receive from HMRC.
4. Select Continue, then select Give permission.
5. Once you're connected, select Continue and then Go to Taxes.

You can also do this from your Account and settings. To do so:

1. Go to the gear icon and then Account and Settings.
2. Select Advanced.
3. Next to Making Tax Digital, select the pencil icon.
4. Click Learn how to connect and follow the instructions.

Refer to this article for more details: MTD for VAT return submission checklist for small businesses.

Moreover, you can visit this article to help you in the future: Submit a VAT return to HMRC using MTD in QuickBooks Online. It contains information on how to submit your VAT return through QuickBooks Online.

If you have any further concerns, don't hesitate to post them here. Have a great day!

thanks for your help,

but i am full set up for mtd, i have filled 1 vat return  with quick books allready ,

just since 2022-2023 ended 

there's no new tax year 2023-2024

Hello there! We are delighted that you've chosen the Community forum to ask for assistance regarding the unauthorized withdrawal from your bank account. I'd gladly route you to the right team to handle this issue.

I appreciate you for following the steps provided by my colleagues to show the new tax year in QuickBooks Online. Thank you for submitting the update for this. I'll route you to the right team to help you isolate this issue.

I understand how this challenge is time-consuming and affects business activities with QuickBooks. Given that the issue persists after your troubleshooting efforts, I suggest contacting our Live Support Team. They have the tools to review the setup of your account, initiate a screen-sharing session, and may create a case to investigate this further.

To contact support:

1. Sign in to your QuickBooks Online account.
2. Click the Help (?) icon.
3. Type in your concern, then select the Let's talk option.
4. Choose Contact Us to connect with a live support agent.
5. Select Start a chat with a support expert or Get a callback from the next available expert.

Please visit this link to learn more about MTD for VAT return submission for small businesses. 

We're always here willing to assist you with any QuickBooks-related concerns. Click the Reply button below or post in the Community again. Take care!

i have done this , but still no success?

Hello Jpc4, we have checked the case and can see the agent you spoke to was raising this to our senior team and will be in touch later on today with an update for you.