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Second opinion] My vat quarters are different to my year end…

second opinion] My vat quarters...
second opinion] My vat quarters are different to my year end for accounts purposes will this be a problem when submitting my records to inland revenue when tax becomes digital. I understand that from April 1st vat becomes digital I would prefer for one quarter to coincide with my year ended how do I get this changed
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Answered in 1 day by:
3/15/2018
TaxVince
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 972
Experience: Chartered Accountant >20 years + Qualified IFA
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You need to write to HMRC to request a change in the VAT quarters to match the company year ends. HMRC are generally fine with that and also works to their advantage for easier review.

You should make sure you state in your request the reason ie to match the businesses financial year end/monthly reporting etc. If you give no reason or if you tell them it is to gain a cashflow advantage they may either query or reject it.

You can also read more about this here: https://help.fd-works.co.uk/hc/en-us/articles/212963829-How-do-I-change-my-VAT-periods-

Hope this helps.

TaxVince
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Category: UK Tax
Satisfied Customers: 972
Experience: Chartered Accountant >20 years + Qualified IFA
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