Share this content

Is it possible to have a 18 month VAT period?

Didn't find your answer?

We have just taken over a new client and the previous accountants have stated that the clients first VAT period is 18 months long. Im not sure how this works, is this possible to have? I am a trainee and have a few days to file this VAT return. How would one go about this?
They are signed up for Xero, i know my way around Quickbooks. Migration takes around 72 hours.

Options
Should I subscribe to Xero, review the VAT for the 18 month period and file it through Xero and then focus on migrating the data from Xero to quickbooks? Whats the best way to review VAT on Xero as Quickbooks has a VAT error checker which is quite helpful to run a quick review. I dont believe Xero has thisĀ or

would it be better to migrate the data over to Quickbooks? I have never changed data over through accounting softwares so im not sure how that works

Replies (12)

Please login or register to join the discussion.

avatar
By Tax is always taxing
01st Dec 2021 11:34

Options:
If you are a trainee... speak to your boss and do what they suggest, not what random people may suggest on the internet

Thanks (6)
avatar
By rmillaree
01st Dec 2021 11:41

an accounting period can be anything - all that needs to happen is for there to be an address mismatch and they stop sending returns and restart at much later date.

Or late registration could mean return needs doing for 18 months

etc etc etc

Thanks (0)
Replying to rmillaree:
avatar
By MFB
01st Dec 2021 11:53

I understand accounting periods can be of varying lengths but this is a VAT period. I've dealt with VAT periods of 3 months (a quarter which is the norm) and know 12 month VAT returns also exist but have yet to hear about a period which aren't the two mentioned above, that's what has got me confused.

Thanks (0)
Replying to MFB:
RLI
By lionofludesch
01st Dec 2021 14:22

MFB wrote:

I understand accounting periods can be of varying lengths but this is a VAT period. I've dealt with VAT periods of 3 months (a quarter which is the norm) and know 12 month VAT returns also exist but have yet to hear about a period which aren't the two mentioned above, that's what has got me confused.

Yes, it's possible. Likely to be a late registration or a back-dated registration but there are more arcane possibilities.

What does the VAT portal say ? Whatever it says, you must file for that period. No ifs. No buts.

Thanks (2)
Replying to MFB:
avatar
By Paul Crowley
01st Dec 2021 16:54

The number of standard variations are numerous
Think about someone who changes their VAT stagger Quarter (Change or VAT reporting date)
1 month or any number up to 5 months can occur

Thanks (0)
Replying to Paul Crowley:
RLI
By lionofludesch
01st Dec 2021 17:13

Paul Crowley wrote:

The number of standard variations are numerous
Think about someone who changes their VAT stagger Quarter (Change or VAT reporting date)
1 month or any number up to 5 months can occur

Well, two or four. Not three.

Thanks (0)
avatar
By Leywood
01st Dec 2021 11:48

Not a great time to take over a client, so what was agreed in terms of meeting deadlines at this late stage? Or has this been lurking on someone's desk?

You seem more concerned about what software you should use, instead of considering what software the client wishes you to use and more importantly getting to the facts of the case re the client that has been transferred in.

You need to refer matters to your supervisor, that is what they are there for. Otherwise you could be making an almighty mess.

Thanks (2)
avatar
By kestrepo
01st Dec 2021 12:03

I wouldn't accept an email from the former accountant of a new client as proof of an 18 month VAT period! I would look for other documentation as proof - is there any correspondence from HMRC or the client to prove the dates?

Thanks (1)
avatar
By Paul Crowley
01st Dec 2021 12:17

YES
Because VAT is on hold
Address issue, as in HMRC sent out a bit of paper and got it returned
We had one such

https://www.accountingweb.co.uk/any-answers/vat-refund-address

This is the bosses job to fix
Get appointed as the VAT agent as a priority
VAT liabilities could make this an insolvent business that will not be paying fees

Thanks (0)
Replying to Paul Crowley:
avatar
By Leywood
01st Dec 2021 12:53

[quote=Paul Crowley]''Because VAT is on hold''

or has been suggested, late registration.

Calculations in both scenarios could be quite different.

Thanks (0)
Jason Croke
By Jason Croke
01st Dec 2021 13:21

18mth VAT return period is either a backdated VAT registration (ie, they went over VAT threshold 18 months ago and have only just registered for VAT and so the first return covers the whole 18 months) or as others have posted, HMRC have locked their account for a myriad of reasons and when an account is locked, no returns are due, once account is unlocked then the next return will be forever how long the account was locked for, so 18 months is entirely possible.

But it suggests the client or previous accountant are slow to respond to HMRC or buried their heads.

Either get access to their VAT account via your agent log in (get them added) or you could try and access via your MTD agent login and then you can custom set the first return period to be however months you want.

Thanks (1)
Pile of Stones
By Beach Accountancy
06th Dec 2021 10:05

Re the change in software, I have only gone the other way (Quickbooks, etc to Xero), but the Movemybooks facility was excellent. I believe that you can use it to move transactions to Quickbooks. There is a fee, but Xero paid it as part of the inducement to move to them. Not sure the same is true for Quickbooks.

However, don't necessarily dismiss Xero without giving it a try. Some areas are better than Quickbooks (e.g. bank matching, not automatically trying to set up a new customer / supplier, etc if you mistype something...), quicker access to reports.

Thanks (0)
Share this content