Making Tax Digital (MTD) for VAT

VAT essentials

• Prepare for MTD for VAT in FreeAgent
• How the VAT accounts work in FreeAgent
• What’s the difference between costs that are zero-rated, exempt and out of scope for VAT?
• Deferred VAT account in FreeAgent
• VAT Flat Rate Scheme calculation in FreeAgent
• Export or print your VAT return in FreeAgent

Setting up MTD for VAT

• Enter VAT registration settings
• Connect to HMRC for MTD for VAT
• Reconnect to HMRC for MTD for VAT

Registering & de-registering your business for VAT

• What to do while waiting for your VAT registration number to be issued
• Update your details when you receive your VAT registration number
• Claim VAT back on purchases made before you were VAT-registered
• Update your VAT settings when you de-register your business for VAT
• Create the journal entries required after you de-register your business for VAT
• Update your VAT registration settings when you re-register your business for VAT

Editing VAT return figures

• Review a VAT return and calculation
• Adjust boxes 1 and 4 of your VAT return
• Adjust boxes 6 to 9 of your VAT return
• Make corrections in a VAT locked period
• Make corrections in a previous VAT registration period

Editing VAT return settings

• Edit your VAT return details
• Change the default VAT return period length
• Change your VAT Flat Rate Scheme details mid-quarter
• Apply the fuel scale charge in FreeAgent

MTD for VAT submissions

• Approve and sign a VAT return
• File a VAT return
• MTD for VAT error messages
• VAT error message: authentication failure
• VAT return filing for two businesses
• Mark a VAT return as filed

Sales and purchases outside the UK

• Record the sale of goods to businesses based outside the UK
• Record the sale of services to businesses based outside the UK
• Record the purchase of goods from businesses based outside the UK
• Record the purchase of services from businesses based outside the UK
• VAT MOSS and VAT OSS in FreeAgent
• Create an EC Sales List