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MTD - amending quarterly return - Sage Sole Trader
I have submitted my first quarterly return. I use Sage Sole Trader (free version).
I have noticed that some expenses have been put in the wrong categories and it seems I might not be able to amend the expenses transactions in Sage for a sent return (I can amend the last 3 months only).
Whilst it doesn't affect the overall profit, I would still like to submit accurate information.
Too late now?
Can I make final adjustments at the year end?
Thank you for reading.
Comments
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Hi OP. As stated in our guidance, which you may find helpful, quarterly returns are cumulative, so any mistakes or omissions can be corrected or included in the next quarterly update. The updates should also be reflected in the underlying digital records. Record keeping and quarterly updates for Making Tax Digital | Low Incomes Tax Reform Group I hope this helps.
“Official Company Representative
I am an official representative of LITRG (Low Incomes Tax Reform Group) part of the Chartered Institute of Taxation who are an educational charity. We are not part of MSE or HMRC. MSE has given permission for me to post on the Forum but this does NOT imply any form of approval of my organisation or its products by MSE. We can’t give individual advice, but if you require further help, we recommend that you contact a tax adviser, HMRC or one of the tax charities where relevant. You can find more information about where to get help with tax here. If you believe I am posting inappropriately please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"1 -
Thank you LITRG.
I don't know what I was doing wrong, but I was easily able to amend the entries and then submit my 2nd quarterly update today.
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