Good afternoon, if I switch to monthly VAT reporting as a result of the Domestic Reverse Charge implementation from 1/3/21, what happens to my existing open VAT return?

Hello Simonplayuk, 

Welcome to the Community page, 

So you would file as normal up until you chance, then file monthly after that. 

The open return will just change to show a month instead. 

Thank you, that sounds simple. So, it currently shows Jan - March as my quarterly period. If I change to monthly from 1st March will I then have to file Jan to end of Feb at the end of March, and each subsequent month thereafter? Or do I need to keep it as quarterly until the end of the current period?

Sorry, we've been quarterly since 2003 so not used to things changing!

Hi @Ryan_M ,

I'm in the same boat here. I have a return open which is currently dated 1/4/22 - 30/6/22 but despite changing the vat settings today, from quarterly to monthly, the dates have remained the same. I want to submit a return on 31st may but currently I get the warning message "Select an end date which is not in the future.".

Can this take some time to update or should it have happened immediately? 

thanks.

Steve.

Hello 365Steve, thanks for posting on this thread, so if you are MTD registered then the dates are set by the obligations HMRC send to us and not the VAT settings. If you log on to the HMRC portal what dates is it asking for on their website. Do they match Quickbooks?

Thanks Ashleigh1 .

This is a very helpful post.  It has solved my problem too (April 2024)..

I have followed your advice and logged into the HMRC portal,  and found the "VAT period" setting on my VAT account.  Job done! 

I think it would be very helpful for many people  if info relating to this issue  could be flagged within QuickBooks Online VAT Settings (Edit) area.  I have been struggling with the issue for over a week in response to a letter from HMRC.     But clearly once MTD is enabled,  this setting within QB is ineffective/disabled.

Another al;tentative would be for the VAT period setting within QB to be "greyed out" along with an explanatory note to refer to the HMRC portal instead.

We're happy to hear that the information provided by our colleague helped achieve your goal.

Additionally, your suggestion could enhance the user's experience in managing VAT effectively. I'd recommend sending this to the development team to have this added to future updates: How do I submit feedback?

It's our priority to provide efficient assistance to our valued customers. Don't hesitate to keep us posted. We're more than happy to help.