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Sue90
January 5, 2021
Question

Re: FRS, I didn't file a return during the 'issue' period' but now doing it for Q3. My QB return is showing standard vat. How do I get back to 12% FRS please?

  • January 5, 2021
  • 1 reply
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1 reply

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EmmaM
January 5, 2021

Hello Sue90, Where is it showing standard vat, are you looking in taxes>edit vat in the top right>edit settings?

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Sue90Author
January 5, 2021

Hi, thanks for your help.

I'm looking in 'taxes' on the 'prepare a return' and 'view summary' report. Although it says 12% FRS, the figures included are for total sales without vat, and the vat due to be paid is worked out at 20% of that. On previous returns this has shown the adjusted for FRS figures before I submit it (total sales inc. vat and 12% of that as the amount due).

Thanks

Sue

Rubielyn_J
Rubielyn_J
January 5, 2021

Thanks for getting back in here, @Sue90.

 

It's best if we can have visuals on your reports and your data, so we can see how the calculations go. Please reach out to our Chat or Phone support to check this further. They have the tools to see your setup.

 

Here's how:

  1. Log in to your QuickBooks Online account.
  2. Go to the Help menu and then select Contact us.
  3. Enter a brief description of your concern and click Continue.
  4. Choose from Chat or Get a callback.
  5. Fill in the necessary information and click Confirm call.

I've also added this article to guide you more about Flat Rate Scheme: UK Flat Rate Scheme: How does it work?

 

Let me know if you have other QuickBooks-related concerns. I'll be happy to help you. Have a nice day.

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