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cyau33
Level 1

Pre July 15th 2020 my vat flat rate was 12.5%. Post July 15th the government reduced my flat rate to 4.5%. How do I calculate the 2 different rates for the same period?

 
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Best answer October 05, 2020

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GeorgiaC
QuickBooks Team

Pre July 15th 2020 my vat flat rate was 12.5%. Post July 15th the government reduced my flat rate to 4.5%. How do I calculate the 2 different rates for the same period?

Hello and Welcome to the Community, cyau33 :waving_hand:

 

It's not possible to change the flat rate percentage within a return period on QuickBooks, you can calculate and enter the average percentage for the period however we'd advise consulting with your accountant/bookkeeper before amending this. 

 

Please get back to us below if you have any feedback or questions. :)

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GeorgiaC
QuickBooks Team

Pre July 15th 2020 my vat flat rate was 12.5%. Post July 15th the government reduced my flat rate to 4.5%. How do I calculate the 2 different rates for the same period?

Hello and Welcome to the Community, cyau33 :waving_hand:

 

It's not possible to change the flat rate percentage within a return period on QuickBooks, you can calculate and enter the average percentage for the period however we'd advise consulting with your accountant/bookkeeper before amending this. 

 

Please get back to us below if you have any feedback or questions. :)

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