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Level 3

VAT deregistration

I have a client who has deregistered for VAT and paid their final return. How do I deactivate VAT on their account now?

 

QBO still remembers 20% standard rating for various nominal accounts and I have to keep overriding it to No VAT. It also keeps reminding us to submit a VAT return!

Solved
Best answer August 15, 2020

Accepted Solutions
QuickBooks Team

VAT deregistration

Say no more, @rjwbailey. I'm here to help you with your VAT set up.

 

You can open your client's account and set the default tax rate to No VAT. This is used for non VAT registered businesses. Let me walk you through the steps.

 

  1. Go to Gear, then Account and Settings.
  2. Select the Advanced tab, then the Accounting section.
  3. Choose No VAT in the Default tax rate selection drop-down.
  4. Click Save and then Done. See image below.

With these steps, you're able to won't have to override taxes and get rid of the VAT reminder for submission. I'm also attaching this article about common VAT codes that I'm sure you'll find helpful. It has lists of different codes that QuickBooks will automatically setup for you.

 

That'll do it. Please know that we're always here if you need help with anything else. Thanks for coming in today and I wish you have a lovely weekend ahead.

 

no vat.png

View solution in original post

1 REPLY 1
QuickBooks Team

VAT deregistration

Say no more, @rjwbailey. I'm here to help you with your VAT set up.

 

You can open your client's account and set the default tax rate to No VAT. This is used for non VAT registered businesses. Let me walk you through the steps.

 

  1. Go to Gear, then Account and Settings.
  2. Select the Advanced tab, then the Accounting section.
  3. Choose No VAT in the Default tax rate selection drop-down.
  4. Click Save and then Done. See image below.

With these steps, you're able to won't have to override taxes and get rid of the VAT reminder for submission. I'm also attaching this article about common VAT codes that I'm sure you'll find helpful. It has lists of different codes that QuickBooks will automatically setup for you.

 

That'll do it. Please know that we're always here if you need help with anything else. Thanks for coming in today and I wish you have a lovely weekend ahead.

 

no vat.png

View solution in original post