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Dec 1, 2024 9:18 PM UTC
Question

Hi, We have moved to the VAT Flat Rate Scheme. Do we post supplier invoices as VAT Zero Rated or No VAT?

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    1 reply

    Nicole_N
    Dec 1, 2024 11:41 PM UTC

    Thanks for reaching out with your question regarding the VAT Flat Rate Scheme, @k_odysseos. 

     

    Please note that we're unable to advise you directly on which VAT code to use when posting supplier invoices. It’s important to note that every business situation is different, and it’s wise to confirm this with your accountant or tax advisor to ensure compliance with HMRC guidelines.

     

    Since your business is on the Flat Rate Scheme, you can check out this article for more information on what each VAT code means: VAT codes in QuickBooks Online: A complete guide


    Moreover, you may visit these articles to help you handle VAT payments inside the program and to keep track of what you owe:

     

     

    We're available 24/7 if you have more questions or have any other QuickBooks concerns. Please leave your comment below and we'd be happy to assist.