Home For accounting professionals General accounting discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


Client doesn't know if it's on CASH or STANDARD VAT scheme

LondinaLondina Experienced MentorMAAT, AAT Licensed Accountant Posts: 814
Is there a way to find out? The previous accountant left and the owner of the business doesn't know. I cannot see which scheme the company is on by looking at the submitted VAT returns or HMRC online account.

VAT Certificate doesn't say either!

Comments

  • JodieRJodieR Experienced Mentor Registered Posts: 1,002
    HMRC won't know which method they're using as there's no requirement to tell them. It may be recorded in an inspector's file if they've had a VAT inspection but I doubt the call centre staff will have access to that. If you cannot contact the previous accountant I would suggest putting together a list of the VAT included on debtors and creditors opening balances on the first date which you're preparing returns from. If there's no material difference between the two then it's not going to make much difference which scheme you choose to use - if there is a big difference then try to reconstruct the previous quarter's return and making a guess which scheme was used based on what looks closest to the figures filed.

    Jodie
  • LondinaLondina Experienced Mentor MAAT, AAT Licensed Accountant Posts: 814
    Thanks JodieR for the reply
Sign In or Register to comment.