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What is aVAT Return?

VAT Return
If you are VAT-registered you need to file a VAT return every three months with HMRC. Your VAT return records how much VAT you owe or you can reclaim. If you are not VAT-registered, you don’t have to file VAT returns.

Your VAT return is worked out by subtracting the amount of VAT your business has paid on goods and services from the amount of VAT you have charged. If your VAT return shows you can reclaim more than you owe, you have nothing to pay and HMRC will give you the difference.

VAT returns are usually filed online every three months. You can find out when your VAT returns are due, as well as your payment deadlines, by checking your VAT account on the HMRC website.

If you registered for VAT online you will have an online account with HMRC. Even if you didn’t register online, if you have a VAT number you can sign up for an account on the HMRC website.

If you are a Numberworx customer, your dedicated bookkeeper will complete your VAT returns and discuss the figures with you before filing them with HMRC.

Any questions?

Even if you are not currently signed up to Numberworx we will do our best to answer your VAT related questions.