VAT Due Date

[philip@wellwoodhoyle]

And consider setting up a Direct Debit facility with the HMRC for your VAT payments. You can do this once you are set-up online, and the HMRC often take the VAT payment several days after the 7th so you get to hold onto your money for slightly longer.

But allow a couple of weeks after setting up the direct debit online before you submit the VAT return for the first time.

If the dd hasn't been fully activated by the time the HMRC computer receives the VAT return figures, it won't collect the direct debit leaving you with your first unpaid "strike" against your record which counts towards penalties if future returns/payments are late.

The HMRC collection system is triggering from the receipt of the VAT return, not at the payment date, so dds set up after receipt of the return don't get caught and aren't collected automatically.

[Greg@CapitalCity]

And

And consider setting up a Direct Debit facility with the HMRC for your VAT payments. You can do this once you are set-up online, and the HMRC often take the VAT payment several days after the 7th so you get to hold onto your money for slightly longer.

[oversteer]

Month + 7 days after last period for the return + payment.

Don't forget HMRC's accounts don't support Faster Payments! Allow 3 working days for the payment, or you get a Nastygram.

[bold]

If the month end is JULY.

You have until the last day of AUGUST to file the return.

The payment must reach HMRC by the 7th September. You get a few days extra if you're paying by electronic means but not many.

Make sure you're registered online for VAT as it makes it so much easier.

Superb, thanks for clarifying ....... I have registered online so hopefully there's not too much involved.

[Sockpuppet]

If the month end is JULY.

You have until the last day of AUGUST to file the return.

The payment must reach HMRC by the 7th September. You get a few days extra if you're paying by electronic means but not many.

Make sure you're registered online for VAT as it makes it so much easier.

[bold]

Hi,

Apologies in advance for what should be straight foward

Ok only been contracting for short time, and about to submit my first VAT return . and I think I'm being a little thick but ....

VAT period is for :- Date From 19 May 2011 - Date to 31 Jul 2011. Date Due - 07 Sep 2011

So do I file return online by 31st JUL and then payment has to reach HMRC by 7th Sep 2011 ?? or does return and payment just have to be submitted before 07 Sep 2011 ?? or am i just confusing a return and payment ?? I guess they are same thing ?

Reason I ask is that, I will potentailly receive payment for an invoice before 31st JUL, but i am on holiday until early JUL from Saturday, so was unsure whether to submit return now without the invoice being paid or can i wait until 7th SEP ??

Apologies if this makes no sense
Bold