VAT online

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in AAT member discussion

I've been regularly submitting my VAT returns online for some time.

Normally I receive a refund, but this next quarter I might need to make a payment.

I set up the DD some time ago and I know I get longer to pay it using this method, but do I still need to submit on time?

Helen

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:VAT online

    Below is posted from the HMRC Website. Interpret as you will:

    The benefits of using VAT Online Services
    It is simpler and quicker than paper.
    No more paper VAT Returns to post.
    Online checks help you complete VAT Returns correctly.
    Online acknowlegement that we have received your return.
    You get up to 7 extra days to submit your VAT Return.
    If you pay by Direct Debit, you get an additional 3 days in addition to the extended due date before payment is collected from your designated bank account.
    Payment will only be taken at the latest payment date.
    Immediate confirmation and receipt for your VAT Return.
    Changes to registration details can be made faster.
    Receive general and service specific email messages. The first being the VAT Return Reminder.

    http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageOnlineServices_ShowContent&propertyType=document&id=HMCE_PROD_008621

    I read it as an extra 7 days to submit your return and they'll collect payment 10 days after the original date.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:VAT online
    Danielwithnall wrote:
    You get up to 7 extra days to submit your VAT Return.

    Thank you!

    That's what I'd read, but these things don't always work that way, do they?

    I think I'll still do it on time. Not worth the hassle or the worry.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:VAT online

    If you can why not.

    I've never had cause to submit one electronically but it could be advantageous if you or your client was running late / forgot or whatever to gain an extra 7 days.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:VAT online


    They do seem to process the repayments nice and fast, so it's worth doing those.

    Just don't like the idea of them taking the money from the account, though!
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:VAT online

    Bear in mind any possible IT difficulties/delays you may encounter - HMR & C don't accept delays due to these!
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:VAT online


    I've just submitted a return on-line.

    Even though I've done it early, the funds will not be collected until the 12th April.

    So, irrespective of the submission date, you receive the 12 days credit from the due date.

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