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A
aa1745
February 7, 2019
Question

Is it possible to manually adjust box 7 of the VAT return?

  • February 7, 2019
  • 1 reply
  • 0 views

A client has had some issues with VAT code set up which are now resolved. Because the codes are now posting correctly, the last several years worth of zero rated transactions have posted to the current VAT return. HMRC are being made aware of the previous inaccuracies, so is it possible to manually adjust box 7 so that only transactions for this period are shown? Or do I ignore the balance carried forward and just submit this period's transactions to HMRC? Many thanks

1 reply

Graceman
Graceman
February 7, 2019

Box 7 is not so important as 1 & 4 but if you have correctly set up the vat codes and more importantly the vat items then the vat period will be correct.

There should not be any adjustment unless you mean to past period already filed and HMRC would now be aware of .

Or are you saying that the changes to correct vat codes have resulted in an exception report where all the correction have posted through to current period skewiing the box 7 figure.

If so then the vat exception report will also have posted the zero figures to the other boxes notifying, HMRC of the issue would be all that is necessary as the exception report is available for proof.

A
aa1745Author
February 7, 2019
Hi again, you might remember me from last week, this is the same client I was asking about then. Some of the VAT items were posting to the control account which you resolved for me, but this has left a rather messy VAT return for the last period. The VAT item "Zero-rated purchases" was going to the control account and is now posting correctly to the liability account. So now box 7 has several years worth of zero rated purchases which have not previously been filed due to the VAT item going to the control account..... This clients accountant is talking to HMRC ref overclaimed VAT as there was a similar issue with the EGS code which had not been posting to Box 2. I was planning on adjusting box 2 and opening a separate liability account for overclaimed VAT, but cant see a way of tidying up box 7.
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