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Level 2

Using the "No VAT" vat code and Box 7 of VAT return

Hi QB

I am compiling my first VAT return using QB online - (I am also parallel running using Excel just to verify).  All VAT boxes appear to be correct, with the exception of Box 7 "Net value of purchases".  

This box includes items I have allocated the "No VAT" vat code against, such as payroll, PAYE and NI payments, and dividends - all of which should not be included in Box 7 (as per the HMRC web site).  All these payments have been included in QB via the banking down load, where I have chosen the VAT code "No VAT".  

I assumed that when choosing "No VAT" then these items would not appear on the VAT return.  

What should I have done to exclude these items from the VAT return? 

Should I be using a different VAT code, or perhaps no VAT code at all? 

or is there a check-box which will allow these items to be excluded ?

 

Any help would be appreciated.  

 

Thanks QB

Jon 1

 

 

Solved
Best answer February 13, 2020

Accepted Solutions
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QuickBooks Team

Using the "No VAT" vat code and Box 7 of VAT return

Hello Jon1, 

 

Thanks for reaching out to us on the Community page, 

 

 

When selecting NO VAT as a tax code it should not be hitting any of the boxes at all. The link below shows you which vat codes hit which box.  Could you seen us a screenshot of your not vat hitting box 7 so we can have a look into this for you. Thanks 

 

 

https://quickbooks.intuit.com/learn-support/en-uk/vat/common-vat-codes/01/239529

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3 REPLIES 3
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QuickBooks Team

Using the "No VAT" vat code and Box 7 of VAT return

Hello Jon1, 

 

Thanks for reaching out to us on the Community page, 

 

 

When selecting NO VAT as a tax code it should not be hitting any of the boxes at all. The link below shows you which vat codes hit which box.  Could you seen us a screenshot of your not vat hitting box 7 so we can have a look into this for you. Thanks 

 

 

https://quickbooks.intuit.com/learn-support/en-uk/vat/common-vat-codes/01/239529

View solution in original post

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Level 2

Using the "No VAT" vat code and Box 7 of VAT return

Hi Ashleigh1, 

 

Oh pants - (accounting technical term). 

I have just gone through all the transactions once more, and have realised that the items appearing in Box 7 have been coded as Exempt, in error.  I have switched them over to No Vat, and low and behold, everything works just fine.  

 

My bad ... and hangover from trying to sort the VAT out too late last night !

 

Thanks for your help anyway, and apologies

J1

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QuickBooks Team

Using the "No VAT" vat code and Box 7 of VAT return

Hello Jon1, 

 

Its no problem at all. 

 

Glad to hear you realised the error made and that your vat account is now showing correct for you in your Quickbooks. 

 

If you have any other queries please do not hesitate to reach back out to us, we will be more then happy to help.