@Ashleigh1 thank you for the clarification. How does it work when you try to submit everything to HMRC for self-assessment? Surely if you have two different accounts you'd have to make two different submissions which would confuse HMRC and the tax calculations would be wrong?
Hello, russd178.
I appreciate you for getting back to us. Allow me to chime in and add some insights regarding this matter.
First, you must register with HMRC for Self Assessment in your business’s second tax year. To do so, go to the gov.uk page and fill out the form.
Once you’ve done that, you’ll get your Government Gateway user ID, which you can use to set up your tax account and manage your affairs going forwards. You’ll also get a Unique Taxpayer Reference (UTR) and an activation code.
Second, file your return. Once you’ve accessed your account, the next step is to log in and file your return. This will mean reporting all your income and expenses and calculating how much tax you owe, which you can easily do with the help of our Self Assessment calculator.
It’s worth checking guidelines on what’s taxable and what isn’t. At the same time, you should remember that some forms of income support for the self-employed are taxable.
Lastly, having a different account won't confuse nor would be wrong in the calculation of your taxes, Because you'll have to set up HMRC/MTD Government Gateway (G.G.) accounts.
To give you more of an idea about submitting a VAT return, consider checking these articles, which you may find helpful:
You can always reach out to our customer support team, to help you further and explain how HMRC/MTD works in QuickBooks.
Know that the Community and I are always here to help if you have other questions, just click the Reply button below.
