Depending on whether our purchases are more than 2% of quarterly turnover, our Flat Rate is sometimes 12% and sometimes 16.5%. Is there any way of dealing with this other than to change the VAT settings each time?
Thanks
Depending on whether our purchases are more than 2% of quarterly turnover, our Flat Rate is sometimes 12% and sometimes 16.5%. Is there any way of dealing with this other than to change the VAT settings each time?
Thanks
Hi,
Thanks for using Sage City.
If you're using a complex VAT scheme that requires adjustments to your VAT Return figures, such as any Flat Rate VAT scheme, you can still make a VAT submission under Making Tax Digital (MTD) using Sage 50cloud Accounts.
Once you calculate your VAT Return, you can use the adjustments option to make the required adjustments before submitting your VAT Return under MTD.
You can refer to the following guides for further info:
If this has answered your question please click More > Verify Answer.
Regards,
Paul
Sage UKI
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