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December 7, 2019
Question

It's time for me to submit my first ever corporation tax returns. Can anyone recommend a reasonably priced service considering I have all transactions in QB?

  • December 7, 2019
  • 1 reply
  • 0 views
I got some paper leaflets from accounting companies asking about £300 which I think is a bit too much considering that the P&L report is already there in QB and I just need someone experience to make sure I didn't miss anything obvious. An hour of remote session perhaps?

1 reply

Angelyn_T
December 7, 2019

Thank you for adding a post here on the Community page, @denis.brodovich.

 

You can submit your return through the bridging software. Before submitting your return, you'll need to authorise QuickBooks to interact with HMRC. Once completed, you can now follow these steps to file it:

 

  1. Go to Taxes at the left pane.
  2. Click on the drop-down next to Submit return and select the Submit with a spreadsheet option.
  3. On the Submit with bridging software page, verify your client's VAT number and VAT period you've selected. If all the information is correct, click on Browse and select the CSV file containing your client's VAT information, then Next.
  4. If your CSV file has multiple sheets, you need to specify the sheet that contains the transactions that make up your VAT return.
  5. Once you have selected the sheet required you need to enter the first cell from your CSV file, which in most cases is box 1 of your return. Update the cell as appropriate if this is not the case. Once you have entered the correct cell, QuickBooks will automatically populate the relevant data from your CSV file.
  6. Check the fields populated in QuickBooks. If the numbers match, click on Review return to proceed.
  7. On the next page, select I declare the information is true and complete, then hit Submit to HMRC.
  8. QuickBooks will now attempt to connect to HMRC and submit your VAT return. During this time, the screen below will be displayed. It can take a few seconds for the submission to go through, do not close your browser while this is happening.
  9. Once the submission is successful, a confirmation message below is displayed. Tap on Done to return to the VAT centre.
  10. The status for your return has now changed to Accepted.

 

For additional guidance about submitting VAT return, you can read these articles:

 

 

If you need further assistance with the process, you can always seek assistance from our QuickBooks Online Support Team. They have extra tools that'll be able to pull up your account securely.

 

On the other hand, if you need help with an accountant, you can find an expert by going to the ProAdvisor site.

 

Let me know if you have any other questions. I'm always here to help however I can. Have a great day!