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Neville73
Level 1

Backdating VAT return and claiming VAT on pre registered items.

Hi

 

I have just become VAT registered and been using QB for the last year.

I have set up MTD on my account but I want to claim on pre registered services and purchases.

 

From what I understand I can simply add VAT on all services (up to 6 months) for the last year and the same with purchases over that year.

 

1) I however want to claim vat on purchases for a further year that are not listed in QB, can I simply just add these in expenses with the original date of purchase?

2) Once my pre reg expenses have been added to QB how do I backdate my first return to include the pre reg expenses I have added? I have seen a video by Aaron Patric that says this can be done on at the top of the "prepare VAT return" form page, 

but I am unable to alter the date in any way at all?

Please Help!

3 REPLIES 3
GeorgiaC
QuickBooks Team

Backdating VAT return and claiming VAT on pre registered items.

Thanks for joining us here on the Community, Neville73 🙂

 

You can reclaim VAT on these simply by adding a VAT code - as this will be your first filing in QuickBooks, you'll first need to make a 'dummy' return on the taxes screen, before adding any VAT to the transactions that you are reclaiming, so that these can hit your open return as exceptions. 

 

For example, if your first filing to HMRC will be dated 01/01/21 - 31/01/21, create a dummy return on the taxes screen by going to Taxes > Edit VAT > Edit settings > Change the 'Start calculating my VAT from' to 'December' so that the open return shows on the tax screen as 01/12/20 - 31/12/20.

 

You can then file the dummy return by selecting 'Prepare return' on the taxes screen (check here that the balances beside boxes 1 - 9 are zero) and select 'Mark as filed'. 

 

Once filed your open period will then update to show the dates of your first filing, and you can then add a VAT code to the historical transactions so that these hit the return as exceptions (when selecting 'Prepare return' you'll see an additional column with the exceptions amounts). 

 

If you've already enabled MTD in QuickBooks, you'll need to temporarily disconnect this by selecting Taxes > Edit VAT > Edit settings > Slide off switch before you can create the dummy filing. 

 

Get back to us below if you have any Q's! 

Neville73
Level 1

Backdating VAT return and claiming VAT on pre registered items.

Hi

 

I am about to file my first VAT return that needs to inclued backdated purchadses. but am still unclear as to the process.

All of my backdated purchases are now in QB and have had VAT added to them my 1stQuarter is from 01/04/21-30/06/21. But I need to back date for services and purchases to 01/03/19.

Please can you give me a step by step guide as to how to do this.

I was set up for making tax digital but it seems from what I have read that I neeeded to disable this to make alterations to the VAT accounts, therefor I have for the moment turned off MTD.

Please help.

Thanks

Neville

 

JonpriL
Moderator

Backdating VAT return and claiming VAT on pre registered items.

Hello @Neville73,

 

You're on the right track, it is recommended to turn off MTD before preparing your return for VAT with transactions older than the current period. In QuickBooks Online, you'll have to start entering transactions from the oldest to the latest date since your tracking VAT from back-dated purchases.

 

This way, you can also customise the date of the return you need to prepare and match it to the period from the backdated purchases from the year 2019. Learn more about how you can prepare your return through this article: Prepare and submit a VAT return in QuickBooks Online.

 

However, I'd still recommend contacting your accountant for guidance in preparing your VAT return. They can give you advice on how you can proceed with the preparation since you've already entered your purchases this year without starting from the oldest transaction dated last 2019.

 

In the same manner, here's a link you can use to find a bookkeeper based on your location: Find an accountant or bookkeeper near you.

 

On top of that, I've also included this reference helpful with the resources needed while working with VAT in QuickBooks: Pay and manage VAT in QuickBooks Online.

 

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Take care and stay safe!

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