Sending a VAT Return

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What to include in a VAT Return

You바카라 사이트™ll need to include:

  • your total sales and purchases
  • the amount of VAT you owe
  • the amount of VAT you can reclaim
  • the amount of VAT you바카라 사이트™re owed from HM Revenue and Customs (HMRC) (if you바카라 사이트™re reclaiming VAT on business expenses)

You must include the VAT on the full value of what you sell, even if you:

  • receive goods or services instead of money - for example if you take something in part-exchange
  • have not charged any VAT to the customer - whatever price you charge is treated as including VAT

Read the guidance on completing your VAT Return.

If you바카라 사이트™re registered for VAT in Northern Ireland, you must include EU sales on your VAT Return and complete an EC Sales List.

HMRC can charge you a penalty of up to 100% of any tax under-stated or over-claimed if you send an inaccurate return.

Accounting for import VAT

You can account for import VAT on your VAT Return by using 바카라 사이트˜p´Ç²õ³Ù±è´Ç²Ô±ð»å VAT ²¹³¦³¦´Ç³Ü²Ô³Ù¾±²Ô²µ바카라 사이트™. This allows you to declare import VAT and reclaim it as a business expense on the same VAT Return.

Using estimated figures

Ask HMRC for permission to use estimated figures. You바카라 사이트™ll need a good reason why you cannot give accurate figures on your VAT Return.

If you바카라 사이트™re allowed, you will not be charged a penalty unless you miss the deadline or make a careless or deliberate error. You바카라 사이트™ll normally have to give the correct figures in your next VAT Return.

Claiming relief on bad debts

If a customer does not pay you for goods or services, you can write off the invoice as a 바카라 사이트˜bad debt바카라 사이트™. If you바카라 사이트™re in this situation, you might be able to claim relief from VAT.

To qualify for the relief:

  • the debt must be older than 6 months
  • you must submit your claim within 4 years and 6 months of the date the payment was due or the date of supply (whichever was later)
  • you must not have sold the debt on
  • you must not have charged more than the normal price for the item

You need to keep records about the debt. Submit your claim for a refund in your VAT Return.

View a printable version of the whole guide

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