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August 21, 2020
Question

Hi. I have deregistered for vat with HMRC. How do I input this into QB so that it stops calculating vat and telling me its time send in a return?

  • August 21, 2020
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1 reply

AlcaeusF
August 21, 2020

Thank you for posting here in the Community, @enquiries26.

 

I can help you stop the system from calculating VAT in QuickBooks Online.

 

Currently, the option or keystroke to disable VAT entirely is unavailable. However, you can configure your account settings and set the default tax rate to No VAT.

 

Here's how:

 

  1. Log into QuickBooks Online.
  2. Click the Gear icon in the top right hand corner.
  3. Select Account and Settings.
  4. Click Advanced from the left hand options.
  5. Under the section Accounting click the edit icon.
  6. Change Default tax rate selection to No VAT
  7. Click Save, then hit Done.

Now when you create transactions, the default will be No VAT, and the VAT Code column will not appear on the transaction screen.

 

I've also included an article in case you need some ideas about the common VAT codes in QuickBooks: Common VAT Codes.

 

Please know that the Community has your back if you need assistance. It’s a place for you to connect with experts and peers. Wishing you and your business continued success.