Skip to main content
November 7, 2022
Question

I haven't received my sign up email for MTD yet, will i receive a penalty for submitting my VAT return late?

  • November 7, 2022
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

DivinaMercy_N
November 7, 2022

Hi there, @userhelen-hoskin. I'm happy to share some info about submitting late VAT returns in QuickBooks Online (QBO).

 

If you've submitted your VAT return late, you'll begin a 12-month surcharge period. The first time you default, you will not pay a surcharge. The surcharge term is extended for an additional year if you default once more in the following 12 months. Along with the VAT you owe, you could also have to make additional payments. 

 

The surcharge is a portion of the unpaid VAT for the late period. It is determined based on the due date. For more detailed info about this, please visit this page: Surcharges and penalties.

 

Once you received your sign-up email for MTD, you can now proceed in submitting your VAT return in QBO.

 

I've attached this helpful article to provide additional guidance in recording the payment on a specific VAT period in QBO: Record a VAT payment or refund in QuickBooks Online. 

 

Keep me posted if you have any other concerns about submitting VAT. I want to ensure you'll be able to finish your tasks in QBO without delay. Have a good day ahead and take care.