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AKT
Level 1

Can I set up VAT on QBO without a registration number? How do I deal with transactions while I'm waiting for tehe registration number?

My client has to be start charging VAT from 1st December 2021 but the registration number has not yet been issued by HMRC. I am trying to set up QBO so they can start accounting for the VAT from 1st Dec.
Solved
Best answer November 26, 2021

Accepted Solutions
Mark_R
QuickBooks Team

Can I set up VAT on QBO without a registration number? How do I deal with transactions while I'm waiting for tehe registration number?

Your concern ends here, @AKT.

 

The registration number is required when setting up VAT in QuickBooks Online (QBO). Since it hasn't been issued by HMRC yet, I suggest waiting for it. 

 

I understand your client needs to start charging VAT on December 1st. However, QuickBooks needs the VAT registration number to complete the setup. Once you received the registration number, you can follow the steps below to set up VAT:

 

  1. Sign in to your QBO account.
  2. Click Taxes from the left menu, then select Set up VAT.
  3. Select the beginning month of your current VAT period.
  4. Choose your filing frequency. Then, select your VAT accounting scheme.
  5. Enter your VAT registration number. If your business is entitled, choose the Flat Rate Scheme (FRS) checkbox.​
  6. Click Save.

 

I'm adding this article for more guidance: Set up and edit VAT settings, codes, and rates.

 

Once you're ready to submit your VAT return, you can check out this article for the detailed steps and information: Submit a VAT return in QuickBooks Online.

 

I'm still open to your replies, @AKT. Please let me know if you need further assistance setting up VAT in QBO. I'll be standing by for your response. 

View solution in original post

2 REPLIES 2
Mark_R
QuickBooks Team

Can I set up VAT on QBO without a registration number? How do I deal with transactions while I'm waiting for tehe registration number?

Your concern ends here, @AKT.

 

The registration number is required when setting up VAT in QuickBooks Online (QBO). Since it hasn't been issued by HMRC yet, I suggest waiting for it. 

 

I understand your client needs to start charging VAT on December 1st. However, QuickBooks needs the VAT registration number to complete the setup. Once you received the registration number, you can follow the steps below to set up VAT:

 

  1. Sign in to your QBO account.
  2. Click Taxes from the left menu, then select Set up VAT.
  3. Select the beginning month of your current VAT period.
  4. Choose your filing frequency. Then, select your VAT accounting scheme.
  5. Enter your VAT registration number. If your business is entitled, choose the Flat Rate Scheme (FRS) checkbox.​
  6. Click Save.

 

I'm adding this article for more guidance: Set up and edit VAT settings, codes, and rates.

 

Once you're ready to submit your VAT return, you can check out this article for the detailed steps and information: Submit a VAT return in QuickBooks Online.

 

I'm still open to your replies, @AKT. Please let me know if you need further assistance setting up VAT in QBO. I'll be standing by for your response. 

AKT
Level 1

Can I set up VAT on QBO without a registration number? How do I deal with transactions while I'm waiting for tehe registration number?

Thanks Mark,  

 

The date of registration is 1st December 2021. 

 

So when the VAT registration number is received do I do the following:

 

  • Credit the sales invoices issued from from 1st December and reissue with VAT invoice 
  • For input VAT I amend the transactions to account for the VAT

Questions re claiming back pre registration VAT

  • In order to reclaim VAT from previous 6 months  do I amend the QBO transactions? or should I make a manual adjustment to the VAT return
  • How do I claim back the VAT on purchase from 4 years ago that are still owned? Is that done via a manual adjustment to the return?

 

 

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