VAT annual vs quarterly

How to change annual VAT to quarterly.

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Hi all,

I have a new client signed up last week. This client is an Amazon seller and registered for VAT on Annual scheme. Is there a way that I can change its scheme to quarterly using HMRC portal or I should need to send a form manually? No returns have been filed and neither any payment sent to HMRC as yet. Its about two quarters now.

Any thoughts?

Replies (5)

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RLI
By lionofludesch
09th Apr 2018 13:17

I've got one client on Annual. He spends all his efforts working out his VAT on a seemingly hourly basis and reviewing his POAs. Yet he claims that it's great as it saves him admin time.....

Never done it but I believe you have to write in.

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Replying to lionofludesch:
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By New_Era
09th Apr 2018 13:33

Apparently, it seems to most clients that annual one is most appealing and easy bearing in mind that only one return to be filed and they can easily negotiate on services fee and everything.

On the contrary, no one actually understands about pros and cons from our perspective.

I never register any client for annual ; this is ever first client and they have registered themselves for VAT.

Thanks for your reply on it.

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By FayeBK
11th Apr 2018 16:26

I haven't done it recently but you used to be able to request to change VAT Return frequency on a VAT484 form.
You probably can also do this using the Online Portal, I imagine through the Change Registration Details section

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Replying to FayeBK:
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By New_Era
12th Apr 2018 14:51

Hi,

Yes, you are right. I used the option "Change registration details" and there is an option to change VAT frequency.

All I am wondering is that if HMRC will really allow it keeping in mind the recent VAT strict policies. System pushed me to say "Yes" to a question saying that the business will always have refunds. I am not sure how pleasant it will be for HMRC to allow it if we say our business has mostly refunds to claim.

Do you have a thought about it?

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Replying to New_Era:
RLI
By lionofludesch
12th Apr 2018 15:06

New_Era wrote:
System pushed me to say "Yes" to a question saying that the business will always have refunds. I am not sure how pleasant it will be for HMRC to allow it if we say our business has mostly refunds to claim.

Do you have a thought about it?

Yes. That question is aimed at businesses who get refunds having monthly returns.

Back in 1973, ALL businesses who expected refunds were issued with monthly returns. After a year or so, most of them said they weren't right bothered about the cash flow compared with the hassle of submitting three times as many returns and the norm became quarterly returns for all.

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