Hello Breeprobiotics, Welcome to the Community. Thank you for your query about your first VAT return and claiming back purchases made prior to the VAT start date. What you can do is set the date to be the date you registered for VAT, Quickbooks will only allow you to file if the dates HMRC says are correct and it picks up those dates through MTD. You can set the date to be 1st May and then you would need to make an adjustment within the return to reclaim back the VAT. This is the process when it is your first return. If you are in a future return and you want to claim back purchases then the process is different
Please take note that backdating and reclaiming your VAT on purchases has an expiry date. You can visit the HMRC website for more information about this process.
After setting up the rate for VAT on Purchases, you can record your Purchase VAT by following these steps:
Go to Taxes > VAT > Returns tab.
Under the Open returns, select Prepare return.
In the Prepare VAT return window, click the Adjust link next to VAT reclaimed on purchases.
Select the Adjustment Date and Tax rate.
Choose an account from the Adjustment Account drop-down menu. DO not use a bank account, you will be best off setting your own account up specifically to use for adjustments. You may want to ask your accountant for help with this.
If you are making the adjustment because you received a credit and you owe less VAT to the government, you could choose an income account that you create for this purpose.
If you are making the adjustment to include a fine, penalty, or interest on a VAT return, you could choose an expense account, such as Interest Expense or Non-deductible Penalties.
Enter the amount in the Adjustment amount field. Then, add a memo to describe the adjustment. So you know in the future why it was adjusted.
Any queries on this let us know.
Click Save.
