1st VAT return, claiming back

TimHayman · ‎February 28, 2019

I've just come to the end of my 1st VAT quarter and need to submit my return.

VAT is all set up and is showing the details correctly for this 1st quarter but how to i add in the VAT from the sales previous to my VAT registration, 6 months worth which are all on quickbooks

Anonymous · ‎November 02, 2019

Hi there, Matt Butler.

In QuickBooks Online, you can adjust your current VAT account to correct errors on past returns if they are:

below the reporting threshold
not deliberate
for an accounting period that ended less than 4 years ago

For the detailed steps on how to record the adjustment, please see this article: Adjust your VAT liability

I'm positive that you'll be able to record the tax adjustment. Post your comments below on how we can help you more about recording taxes. We are here for you.

View solution in original post

TaliaI · ‎February 28, 2019

Hello TimHayman,

Would you like to include the amount of those VAT sales on your current return? If so, you could put through an adjustment, or journal this in - however you will need to speak to an accountant to confirm which accounts you will need to hit. Please let us know if this is not what you are aiming to do.

Thanks,

Talia

TimHayman · ‎February 28, 2019

Hi Talia,

I don't have any sales to register in that period.

My VAT registration is from the 1st of January but I know HMRC let's let claim back VAT paid on purchases/services from a certain period prior to that.

When I first setup QuickBooks I inputted the purchases that would be eligible in the knowledge that I would be able to claim back this but I can't find an option for how to do this.

Tim

TaliaI · ‎February 28, 2019

Hello Tim,

Do those transactions have VAT codes applied to them?

Thanks,

Talia

TimHayman · ‎February 28, 2019

No Worries, i've worked out how to do it now.

Tim

TaliaI · ‎February 28, 2019

Hello Tim,

That's great. Let us know if you have any further questions.

Thanks,

Talia

Matt Butler · ‎November 02, 2019

Hi I have the same issue, how did you manage to make the adjustment?

Anonymous · ‎November 02, 2019

Hi there, Matt Butler.

In QuickBooks Online, you can adjust your current VAT account to correct errors on past returns if they are:

below the reporting threshold
not deliberate
for an accounting period that ended less than 4 years ago

For the detailed steps on how to record the adjustment, please see this article: Adjust your VAT liability

I'm positive that you'll be able to record the tax adjustment. Post your comments below on how we can help you more about recording taxes. We are here for you.

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1st VAT return, claiming back