Hmrc when is vat return due

Also, those businesses on the Payments on Account scheme have different deadlines. You can check them in the online information published by the authorities. If the due date falls on a Sunday or bank holiday, the date is shifted to the previous working day. VAT payments in UK can be made using different systems. The bank details change depending on the method used.

Taxpayers should also take into account the applicable delays until the payment becomes effective, as there is a risk of late payment due to this delay. Non-established companies will often make payments from an overseas account.

The details to be used for these payments are the following:. You should double check the above information before making a payment to HMRC. It is not possible to carry forward a VAT credit to the next reporting period. A UK bank account is mandatory to get your refunds via bank transfer.

In case you do not have a UK account, HMRC will issue a check in the name of the company that can be cashed in an overseas bank account. If this check cannot be cashed, the business will need to open a UK bank account to get the VAT refund.

It takes a longer time to get your VAT refunds via check. The tax authorities may ask additional questions or carry an audit before accepting a repayment. In these cases, the VAT refund would be delayed. More information is available in the online guidelines published by the authorities. Collection dates for Direct Debit are shown in the VAT payment deadline calculator see the section later in this guide.

At all times you are fully protected by the Direct Debit Guarantee. Please note that, if you wish to set up a Direct Debit and want it to apply to the return you are about to submit, you must set up the Direct Debit first and allow enough time for HMRC to make the necessary arrangements with your bank or building society, before you submit your return online. Find out about the Direct Debit Guarantee.

You must set up your Direct Debit Instruction DDI before you submit your next return and at least two bank working days before the return is due when the due date falls on a weekday. For example, if your return is due on Tuesday 7 May , two bank working days before this is Thursday 2 May note that Monday 6 May is a bank holiday. If your return due date falls on a weekend or bank holiday you will need to set up your DDI at least three bank working days before the return is due.

For example, if your return is due on Sunday 7 July, three bank working days before this is Wednesday 3 July. If your return is due in less than two or three bank working days as shown in the examples above then for this return only you will need to pay by a different electronic method. If you make payments on account POA , your interim and balancing payments must clear into HMRC's bank account by the last bank working day of the month.

HMRC will send you a payment schedule listing your payment dates. Read more about payments on account. If paying by cheque or cash is important to your business for example, because of legal or internal security requirements you can pay by taking your cheque or cash to a bank or building society, and paying it in over the counter, along with a Bank Giro Credit which you must obtain from HMRC in advance.

It is the Bank Giro which acts as the electronic payment, and it will be printed by HMRC with your business' specific details, to allow HMRC to allocate the payment accurately to your account and the right accounting period. You may only submit a paper VAT Return or pay by cheque in the post where you have been advised by HMRC that you are exempt from submitting your return online.

If you pay by a cheque in the post, you should note that your payment will be treated as being received by HMRC on the date when cleared funds reach HMRC's bank account.

A cheque takes three bank working days to clear. Bank working days are Monday to Friday, excluding bank holidays. To allow for possible postal delays for which HMRC is not responsible please allow at least three working days for the payment to reach them and a further three days for the payment to clear into HMRC's bank account.

If your cheque payment does not clear by the due date shown on your paper VAT Return, you may be liable to a surcharge for late payment. You can also pay by any of the approved electronic methods mentioned above. If you do, then you will normally qualify for extra time to submit your Return and payment, compared to payment by postal cheque. If your business makes PAYE payments for your employees, then take note of the following monthly deadlines for:. Corporation Tax is owed by all UK limited companies.

Corporation Tax Returns CT are due 1 year after your end, whilst Corporation Tax payments are due 9 months and 1 day after your year end. The deadline adjusts depending on the date of your year end, for example if this date is the 31 December , then your Corporation Tax payment will be due by 1 October The precise tax date deadlines that your business will need to adhere to depend on a variety of factors.

To find out more, please contact our knowledgeable team today on Updates to minimum wage, tax rates and pensions will be applied. Quarterly corporation tax instalment also due for large companies depending on accounting year end.