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1 reply

JoesemM
JoesemMQuickBooks Team
QuickBooks Team
June 9, 2023

Hello there, @Personaliser.

 

I'd love to help you achieve your goal, but would you mind sharing more details about it? Like adding a screenshot on the Tax Savings this Year next to the piggy bank mean in your home screen? It can help us get on the same page and provide accurate resolution.

 

I'll wait for your reply, or if you have any other questions, please let us know. We're always here to help. Have a great day. 

P
PersonaliserAuthor
June 9, 2023

Thank you. I have attached the image

 

 

F
FateCandylaneTQuickBooks Team
QuickBooks Team
June 9, 2023

Thanks for getting back here with an attached image, Personaliser. Let me share insights about tax withholdings in your employee's taxes.

 

With QuickBooks, tax savings are the reduction from your employee or customers that exempt or reduce their tax payables being withheld. Thus, these are the total amount of deductions that are subtracted from your taxable income.

 

You'll want to browse through these references for additional insights:

 

 

If you'd want to review the process of submitting your VAT returns to the HMRC, you can visit this article: Submit an MTD for VAT return to HMRC in QuickBooks Online. 

 

Moreover, I also encourage visiting our QuickBooks Help page to browse articles for more tips and guidance when doing your future payroll tasks in QBO.

 

Let us know in the comments below if you have additional questions or other QuickBooks concerns. We'll get back to you at any time. Keep safe!

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