You need to go to Edit menu - Preferences - Company preferences (you need to be logged in as the QB administrator to do this). Where is says "Do you charge VAT"?, click Yes.
You will then need to set up HMRC as a Supplier and it is there that you can set up your VAT periods, whether you will be on cash or standard VAT and other details.
I've got one piece of paper that says Effective Date 1/8/12, certificate issued on 29/8/12 and returns to be made in respect of periods ending 30/11/12 and three monthly thereafter..
Am I right to presume the first quarter is 1/9-30/11?
I'm going to call the VAT helpline tomorrow and get some advice. The Trade classification is Used Cars and Light Motor Vehicles. Either way, I'm feeling a little out of my depth tonight... His record keeping and bank reconciliations are like a little bit 'loose' and now with being VAT registered he just can't work like that. Trying to trace all his existing stock invoices etc is taking me hours. Oh well, gripe over with. If it's beyond my scope I shall just have to say!
pinks - if they are buying/selling used vehicles you also have the added complication of the VAT Margin Scheme
2.1 Why would I want to use the Margin Scheme? If you sell second-hand vehicles on which you werent charged VAT, using the Margin Scheme will save you money.
Without the Margin Scheme, you would have to account for VAT on the full selling price of each vehicle.
But, if you use the Margin Scheme, you can account for VAT on the difference between the price you pay for a second-hand vehicle and the price you sell it for.
If you sell a vehicle for less than you paid for it, you wont have to account for any VAT on the sale.
