VAT fixed rate scheme change rate

Question asked by Chris Lewton 5 years ago

Hi Can anyone advise how I change the my fixed rate VAT to a new rate and how I stat this from an earlier period?

Thanks

3 Replies

Hello Chris,

To update your tax scheme you will need to go to Settings > Organisation > Tax & Details > Tax, select the "manage VAT scheme" link.

file

FYI: Any invoices created in the tax period that were generated before the update, will need to be edited and updated to register the new tax rate.

Thanks, Theo

I hesitate to step in here but, just in case, if you are on the cash basis of the FRS it's the invoice that determines the FRS% to use not the % that applies when the cash is received.

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are