HOW TO FILE YOUR FIRST VAT RETURN - NEW FOR MTD WITH DIGITAL SOFTWARE!

[@tinaodam6256]

Thank you. Brilliant Video. Returning to work in the UK after many years. this is just what I needed.

[@Yusuf-j3j2s]

Great video

[@MrNjeri66]

Thank you so much for this Aaron. You introduced me to QB and This is is exactly the kickstart I needed for some confidence...you are the best teacher there is.Thanks

[@BoffixAccountancy]

Thank you for the kind words! I'll pass that on to Aaron. Glad you are starting to feel confident with QuickBooks!

[@JohnScutter-s5j]

I think this is a great video. Thank you!!

[@gracioussichali3024]

I like your explanations

[@johnkendale]

I have a USA company... It is so hard to find out how to Pay VAT. Quickbooks doesn't have VAT option because I'm in the USA. Other company Xero is the same. Why is this so difficult 😭

[@anoushka_a]

Am I correct in recording car MOT tests as 'No VAT' rather than exempt? As I understand it MOTs are outside of the scope of VAT and thus should be categorised as No VAT rather than exempt? Love the channel & would be grateful for your input :)

[@BoffixAccountancy]

MOT's are no VAT!

[@WhoIsTheGoatHQ]

Can I file a NIL VAT Return with the software?

[@BoffixAccountancy]

Yes, you can!

[@VeronicaDiaz-ft5nq]

Thanks for your video, could you tell us if you only charge VAT over purchases made in UK only? What if I have a business that sells a digital service to other countries? does it still apply?

[@BoffixAccountancy]

Rules need to be followed regarding VAT so we recommend speaking to an Accountant to clarify your circumstances, feel free to reach out for a free service enquiry with one of our team: bit.ly/3ycvJC8

[@Ian-px5nm]

Hi, I understand that a company can claim back input tax suffered on goods and services in the six months prior to its VAT registration date. To add these transactions and Input VAT to its first VAT Return do I just make a manual adjustment to boxes 4 and 7?

[@BoffixAccountancy]

Yes, you can do!

[@factorynoir]

Do I need to include expenses that didn't include VAT on a VAT return? Or just the items that included VAT? Like, does it need to cover everything spent in the period? Thanks in advance!

[@BoffixAccountancy]

If the expense is Zero Rated, it will need to be put into Box 7, if it's No VAT, it gets excluded. I would advise talking to an accountant if you are unsure for more detail and confirmation. You can have a free service enquiry with a Boffix team member here: bit.ly/3ycvJC8

[@josephinekamara8210]

Please Please can you advise how do i submit to HMR , i have no sales. I have authorised HMR to my account but don't know were to go to submit my first VAT. Please help

[@BoffixAccountancy]

You will need some bridging software to submit a Nil Vat Return!

[@200milesaway6]

What do you do if vat is calculated per line instead of on the whole transaction?

[@BoffixAccountancy]

I would recommend booking a meeting with one of our accountants: linktr.ee/Boffix

[@aspectoflife]

well done