Correct VAT errors and cancel the VAT registration

YakivGood

Free Member
Apr 29, 2021
12
0
Hello. Help with advice. Thank you in advance everyone for the answers.
I discovered an error in my VAT return for 1 and 4 periods 2021, I have registered as the flat rate scheme, but for the first two quarters I filed my VAT returns in the usual method (don't ask me, this is a long story).
Now I need to correct the amounts in all boxes.
I want to make an adjustment as soon as possible before the end of the current reporting period and cancel my VAT registration as it no longer makes sense.
Could you tell me how best to proceed?
Can do I submit the VAT652 form in May and not wait for the end of the reporting period, as I would like to cancel the VAT registration as soon as possible?

The net value of VAT errors on previous returns £875, it means
I need to pay an additional VAT £875.

I am looking forward on your replies.
 

YakivGood

Free Member
Apr 29, 2021
12
0
Errors of under 10K can be adjusted on the following vat return. You can cancel your registration and make the adjustment on the final submission. There is no reason why you need to wait to the end of the reporting period before cancelling your registration.


Thank you. It means a VAT return be available to me after cancelling?
 
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YakivGood

Free Member
Apr 29, 2021
12
0
[QUOTE = "Scalloway, post: 3083554, member: 75052"] Если вы откажетесь от регистрации в качестве плательщика НДС, вам будет указана дата, и вам нужно будет заполнить декларацию по НДС с транзакциями до этой даты. [/ QUOTE]

Тhank you so much and why it does not say in a law?
 
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YakivGood

Free Member
Apr 29, 2021
12
0
If you deregister for VAT you will be given a date and you will need to complete a VAT return with transactions up to that date.


Can you tell me please if it makes sense to submit the VAT652 to avoid a fine or significantly mitigate it or complete a VAT return?

And if I still fill out the VAT return, haw it will be clear that this is a corrective VAT return?
 
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paulears

Free Member
Jan 7, 2015
5,653
1,661
Suffolk - UK
As an aside, I finished my first year on the new accounting software, for making tax digital. For a year I’d been doing some things wrong, and the accountant just fixed the entries. Just pressed the VAT button and an extra three grand popped up from double entries I’d made and they had sorted. I had expected the amount to have been minimal this quarter, and of course, relying the figures in the software were correct, I’d spent the Government’s money!
 
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