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.
All VAT Registered business should now be registered for Making Tax Digital (MTD). This means that all VAT Records should be kept digitally and returns submitted via compatible software.
Mad About Bookkeeping are fully MTD compliant, which means we can assist you to ensure your business is also MTD compliant, by providing you with the appropriate software, keeping digital records and filing your VAT Returns through the correct channels.