Hello there, @cabmort. I'll be happy to outline the steps to set up a VAT code in QuickBooks Online (QBO).
If you haven't yet, ensure to set up your VAT in QBO. Once done, please refer to the steps below to create a new VAT code.
- Go to Taxes and select Add Tax.
- Choose the type of tax you want to add.
- Tax rate: Add another tax rate for VAT, such as a local tax that is not already included.
- Group rate: Combine multiple taxes and apply them to your transactions seamlessly.
- Custom tax: Add a tax agency and a tax percentage, such as an environmental levy, hotel, or petrol tax.
- Enter the Tax name and other necessary information.
- Click Save.
Once done, your new VAT code is now available when entering your next invoice/expense/bill. For more information, please see this article: Create a new VAT code in QuickBooks Online.
Furthermore, here's a guide to assist you in submitting your VAT return in QBO: Submit a VAT return to HMRC using MTD in QuickBooks Online.
Keep in touch if you have other concerns about VAT. The Community is here to help. Stay safe.