Not all businesses have a VAT cycle that matches the financial year, the calendar year or the planning year. Being able to specify the end of the first VAT period would be useful.
Currently VAT works based on financial year, the end period of which can be changed in Settings. The feature you suggest would definitely be an improvement. I will add it to the next specification for VAT and see if we can do it. Is there any other VAT functionality you would like to see?
Not at the moment, Robin. Thanks.
I've had another thought about this. The default delay facility that you have for costs would be useful when selecting the VAT period. The vast majority of businesses (in my experience) don't pay their VAT in the month that the VAT period ends. The most common behaviour is to pay it in the following month, but some hang it out until the first week of the next month. So the default drop down would need three options: No delay, 1 month, 2 months.