Mistakes on transactions relating to a previous VAT return

Problem reported by Kat Goldin 10 years ago

Hi there- We have discovered that we made an accounting error with how we dealt with transfers between our paypal account and our bank account in the quarter ending April 15. Is it possible to go in and edit the return/transactions in some way? What happened was the transactions were accounted for as 0 rated transactions as opposed to bank transfers, but it makes our purchases look v high.

Thanks Kat

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Hi Kat

Did you submit the return through Clear Books? If so, you can't make any amendments to the return now.

Official guidance on amending VAT errors can be found here https://www.gov.uk/vat-corrections/adjustments

In my very honest opinion - I wouldn't worry yourself with it. So long as there's no loss of tax I doubt very much an inspector would really care.

10 years ago

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