VAT

I will be using QuickBooks from 1 April 2021, the start of my company's financial year. I have the following VAT returns due: *quarter ended 28 Feb 2021* month ended 31 March 2021 (I've changed reporting date to coincide with financial year end cadence). Can I use QuickBooks to file MTD VAT returns for these two periods, or only for the quarter from 1 April 2021?

recorded on taxes page

Last year I had to account for a couple of imports from the EU, and used the code 20% ECG. From your pages this should show in the VAT detail report as:+/- VAT at 20% to Box 2 and 4+/- Net Purchase to Box 7 and 9.However I just checked this and it only seems to have posted to box 4 and 9. Is this an error in Quickbooks?

No text available

Hi. A client is using Google Adwords and makes payments to Google in Ireland. The invoices from Google show VAT at 0%. I believe these invoices are subject to the Reverse Charge basis. How should they be recorded in QB so the VAT is properly shown?

I'm having problem with understanding if we should pay VAT in the EU ot get 0% VAT invoice: We buy materials (linen) in the EU which are then sewn into kitchenware, so the commodity code changes. Since UK left EU I understand that we pay VAT in the UK, but the linen supplier says they need to charge VAT already in the EU since the goods code changes. Are they correct? Thank you.

Hello all, myself and a contractor I work for have made a mistake on the invoicing of a job. I sent a normal invoice to the person I do work for with 20% vat as normal , then he has paid this Invoice. We thought he was the end user which he is not it is the householder. He has asked me to send the vat back to himself as I am in credit with his accounts. Is this possible to do with quickbooks and if so how?  Thanks

Hi wonder if someone can help me, I’m going round in circles here. I have an import invoice from a UK Freight Forwarding company, with a UK VAT Reg Code, for an item imported from Germany. The invoice lists admin costs, duty etc. but there is one final line on the invoice with an amount of £151.71 and the description “Import Tax”. There are 3 Tax Codes listed, A, B and C. The admin, advance funds and additional customs tariff postitions costs are listed with tax code A, the Duty is listed with tax code B, and the Import Tax is listed with tax code C. In a box underneath, it states Tax Code A has % Tax 00,000. Tax Code B has % Tax "ZOLL" and Tax Code C has % Tax "EUST". So I know EUST is the German VAT code, but if that's the export tax, I'm confused as to why it's appearing as an Import tax on this invoice? My question is this. Obviously we have to pay the full amount of the invoice but if I use the PVA 20% get-around idea with tax code 20%RC MPC

Have mixed expenses for this financial year, so VAT is being deducted from those reconciled since registering, some are not. So P&L report is out.

Am struggling with the P&L for my end of year. VAT reg started this week, so now I'm having to reconcile any unreconciled bank transactions with VAT. This means the P&L now has a mixture of VATed and nonVATed expenses in the list. So, is there a way to present the P&L inc VAT, to overcome this issue? Any tips gratefully received. Cheers,

Hi All I'm struggling with having two separate templates now that we need to invoice under the CIS reverse charge VAT scheme AND invoice as per normal with other customers. Has anyone been able to successfully do this? I've tried with creating a template in word but surely there must be an easier way now that we have to have different messages on different invoices. Any help gratefully received. Thanks! Ursula 

Hi, I am a VAT and CIS registered subcontractor and work for a larger contractor. We also use subcontractors that are VAT and CIS registered. Can someone help with how I will invoice for works completed from 1st March 2021 to ensure that my books are correct, also how I allocate payments made to subcontractors please? Sorry if this is a bit vague but fairly new to quickbooks

No text available

No text available

Found out today that if you use the Cash Accounting Scheme to do your VAT that any Construction Industry reverse charge monies you owe to HMRC has to be added to the Vat Return Manually !!!!  i only Know this because the amount of vat i owe for this quarter did not alter when i did my first subcontractor payment this morning so was looking to see what i had done wrong then i read that if you use Cash Accounting you have to add it manually or change to standard accounting for your VAT as i can wait 3 months for payments this is not an option , but how many people that do cash accounting in the construction industry are actually aware of this .... i certainly wasn't informed.... what are the chances that some people that have had no reason to delve into the help pages are going to underpay there VAT next quarter ..... COME ON QUICK BOOKS This needs sorting i shouldn't have to do half the job myself that's what i pay my subscription for  I'm seriously thinking of moving els

Hi there, My son has started a plumbing business and I am a partner. I have paid for everything from my personal account including a vehicle, Invoices are made out to the company. How do I record these entries and can the company claim the VAT on these invoices if I have paid for them? We are VAT registered.

No text available

No text available

No text available

Afternoon, Our business is subject to both 20% CIS and now the VAT Reverse Charge. On our invoices- we would usually put CIS Labour Standard (20%) and then 20% VAT. Am I correct in thinking I now put CIS Labour Standard (20%) and then 20%RC CIS in the VAT column. This shows up as £0 VAT on the invoice, where as I thought it would display the VAT just not add it onto the total payable. (Like it does when we create bills from our subcontractors using the reverse charge). Do I have to put the VAT amount in the "message" section on the invoice as I have read in other posts? And by using the 20% RC CIS code, even though it is not shown on the invoice, is it still accounted for in the VAT Return? Many Thanks

Hello everyone, I am using QB Desktop Pro 2018 UK. I want to create a new VAT code and associate it with a VAT item that's already created but I get an error message saying "Unable to add item to list". Clicking ok a new message appears saying "Quickbooks is unable to complete this operation and needs to restart. Quickbooks will restart automatically." Can someone advise what's wrong and how to fix it? Our company is a really small one and it's not like we have tons of transactions or items created in the system. Thanking you in advance.Eva 

Hi there, I made the VAT adjustment on my first VAT return for purchases of supplies and services within the 6 months prior to registration. This has been noted in my banking records and journal as a VAT adjustment and as a payment. Following submission of my first VAT return, I received a refund for the VAT on purchases of supplies and services prior to registration plus purchases of supplies and services in my first quarter - which is what I expected. This VAT refund has been logged as a refund back into my banking records. However, because of the VAT adjustment in the first instance is logged as a payment - my QB banking record is not showing the same amount as my actual bank account. I'm confused as to what has happened here! Is there a way for me to correct this? I am hesitant to delete the journal entry for the VAT adjustment as a shortcut to make my numbers look the same on QB and bank account.  Hope someone can help advise on this - thanks!

No text available

Hi, I have just signed up for Making Tax digital and imported by files from my old quickbooks. However the VAT amount is incorrect. One of the issues is a lot of old unassigned VAT from 2016 and older. We are not due the VAT to HMRC and the accounts have been completed and submitted since then. How can I clear these unassigned VAT amounts as due to them being imported and not relating to the current VAT quarter I cannot adjust the totals shown. In case this make a difference our VAT rates vary from exempt, partial and full. Thank you.

No text available