Excuse me for thinking out loud (in the hope of some pointers)
but here are the differences for each box - i.e my errors on this return.
A positive amount meaning I should have entered a higher number in this return. A negative meaning i should have entered a lower number in this return.
1. £270.00
2. £0.00
3. £270.00
4. -£26.14
5. £296.14
6. -£600.00
7. -£149.34
8. £0.00
9. £0.00
Of course that is if I correct back to accrual method. if I decide to stick with cash accounting then the differences are more significant.
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Reply to: VAT Cash Accounting Entering & Exiting.
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Previously on "VAT Cash Accounting Entering & Exiting."
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Thanks Clare.
if I recall, if I stick with accrual basis i've underpaid this quarter but only by a couple hundred quid.
I'll try and re-submit online (never seen this option anywhere though) but otherwise adjust next quarter i guess.
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Either contact HMRC and re-submit the correct figures, or adjust next quarter. Mistakes under £10,000 can just be amended on future returns.
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VAT Cash Accounting Entering & Exiting.
I've just done my VAT return and a minute after I hit the submit button I realised I've use Cash accounting method this quarter but not last quarter (or before)
Have I just paid VAT twice on my 2010 Q4 sales?
Is this going to come out all even, or should I contact HMRC to re-submit this quarter?
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