Commentary

V7.300 Submitting VAT returns and paying tax by due dates

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.300 Submitting VAT returns and paying tax by due dates

Part V7 Tax planning | Commentary

V7.300 Submitting VAT returns and paying tax by due dates

This is a priority for any business.

From 1 April 2012 almost all businesses are required to submit VAT returns online and make VAT payments electronically.

The following are a few important tips in relation to submitting VAT returns and paying tax:

  1.  

    •     A business normally submits VAT returns on a quarterly basis. However, if the business regularly receives VAT repayments (eg the majority of its income is zero-rated) then there is scope to submit monthly VAT returns. This will improve the cash flow of the business by producing more regular repayments,

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