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December 7, 2022
Question

Do you have to pay the amount of VAT yourself by BACS instead of money coming out directly from your account ?

  • December 7, 2022
  • 1 reply
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1 reply

AlcaeusF
December 7, 2022

Hi there, @alanthompson712.

 

I'm glad to see you dropping by here in the Community space. I can assist you with your concern about paying your VAT bill.

 

As you would pay your VAT outside of Quickbooks directly from your bank to HMRC, there are many ways to pay the amount of VAT in the United Kingdom (UK). Aside from making a payment by BACS, there are other options like Direct debit or pay using a debit or corporate credit card online.

 

I recommend reaching out to HMRC for more information about making VAT payments. Alternatively, you can check out their website to view the available alternatives for paying these taxes. Here's the link: https://www.gov.uk/pay-vat.

 

Please note you'll also need to record the payments in QuickBooks for tracking purposes. Add the payment date or the date your Direct Debit is due to leave your bank account.

 

Our system tracks payment due dates in one place so you can avoid late returns, surcharges, and penalties. For additional guidance on filing your return, I've included an article I found helpful for you: File your VAT return and record tax payments in QuickBooks Online.

 

Reach out to us anytime you have questions about managing VAT in QuickBooks. We're always ready to lend a hand. Take care!