Forum Message

VAT Amendments

Hello,

I made a small mistake on my vat return due to a incorrect date on a purchase invoice and an incorrect date on a refund/credit note. I have found that this can be paid in next months vat return so I have amended the dates on these invoices and found the amount I still owe as £58. How do i include the value of the inaccuracy on my VAT Liability account so the amounts will add up after the next vat return? I understand that it has to be a general transaction but don't quite understand how it works.

Thanks


Posted by Lauren on Oct 27, 2017 2:10 PM BST

Hi Lauren,

Solar Accounts cannot adjust the figures on the current VAT return to account for errors on a previous VAT return. Instead, you will need to manually adjust the Box 4 and Box 7 figures as you copy them from Solar Accounts to the HMRC form when you submit your next VAT return. You will also need to correct the date of the purchase invoice and refund/credit note, but like you will not need to adjust the VAT Liability account because if you only change the date of a transaction it doesn't affect the current VAT Liability balance.

Regards,


Posted by Mark McLaren (Solar Accounts) on Oct 30, 2017 9:54 AM GMT