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January 12, 2020
Question

When will Quickbooks support Annual Reporting for VAT? In the meantime, what should a business with annual reporting do with regards MTD ?

  • January 12, 2020
  • 1 reply
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1 reply

Jen_D
January 12, 2020

It's fantastic to have you here, @alloura1,

 

I can share a few insights about businesses filing their VAT annually. Our developers are working to ensure yearly filers can also submit their returns in QuickBooks Online.

 

While annual submissions are not currently supported, you will need to file through the HMRC Gateway. then mark your VAT as filed in QuickBooks to close the period.

 

Here's how:

 

  1. Go to the Taxes menu, and tap the VAT tab.
  2. From the Action column, select Prepare return.
  3. Make sure the dates and other fields are correct.
  4. When you're ready to submit the VAT return to HMRC, click File online with HMRC.
  5. Choose Submit a VAT Return/Set up a VAT Direct Debit Instruction, then pick Submit a return.
  6. Once done, go back to QuickBooks and press Mark as Filed.

To be guided with the tax processing in QuickBooks, see these resources:

 

Submit a VAT return in QuickBooks

Making Tax Digital (MTD) - FAQ

 

If you have other questions about this, please feel free to reach out back to me. I'll be glad to share more insights and provide further assistance with anything in QuickBooks. Have a wonderful week!