It’s important to know the relevant dates and deadlines to look out for when you’re filing your VAT returns; especially if you’ve just become VAT registered.
What are my VAT quarters?
Each VAT period is 3 months long, making up the 4 quarters of the year. At the end of each VAT period; we will send you an email letting you know the period has just ended and what information we now need from you, for us to complete your VAT return . Your VAT period will depend on when you were registered; if you are unsure of your VAT quarters or if you currently file your own VAT return but you would like us to do this for you in the future, just let us know: Pi Accountancy | Expert Business Advice | Gloucester & Swindon (pi-accountancy.co.uk).
When is the Deadline?
The deadline for your VAT returns to be filed and paid is a month and 7 days after the end of your VAT period. For example:
- Your VAT period is from the 1st of February to the 30th of April, which would mean the deadline is the 7th of June.
- Your next VAT period is from the 1st of May to the 31st of July, which would mean the deadline is the 7th of September.
When do I need to give my accountant the information by?
For us to guarantee submission by the deadline, (and to give you enough time to pay) we need you to provide us with the information no later than the 28th of the month prior to the deadline. For example:
- If your VAT period is from the 1st of February to the 30th of April, we need your information with us no later than the 28th of May
What if I have a VAT repayment?
If you have a VAT repayment, the dates do not change. HMRC aim (they do not always meet this) to ensure all refunds are issued to clients within 30 days of the VAT return being submitted to HMRC.