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Glossary

VAT Return

A VAT return is a form sent to HMRC outlining your business’s VAT activity. This covers both the VAT you paid to suppliers and the VAT you charged customers.

Normally, you have to file a VAT return every three months, although there are exceptions to this rule. Even if you owe no VAT or are owed a refund, you must still submit the return.

Important details contained in a VAT return are:

  • Total sales and purchases
  • VAT payable to HMRC
  • VAT recoverable from operating expenditures
  • Any VAT that HMRC owes you

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