You usually submit a VAT Return to HM Revenue and Customs (HMRC) every 3 months. This period of time is known as your ‘accounting period.’ Other VAT periods can be monthly and annual schemes as well.
The VAT Return records things for the accounting period like:
- your total sales and purchases
- the amount of VAT you owe
- the amount of VAT you can reclaim
- what your VAT refund from HMRC is
You must submit a VAT Return even if you have no VAT to pay or reclaim, and DD Chartered Accountant prepares VAT return and submits them to HMRC on your behalf. From April 22, most returns have to be filed under Making tax digital.