VAT3 return frequency

BulliteShot

Why the hell do I have to file a VAT3 return every 2 months. Preparing accounts this often is very time consuming and very frustrating.

Is there any way to file one big VAT3 return at the end of the year, along with the Tax return?

caddy2

no expert on this, but submitting the vat3 every 2 months is optional, you can change it to a lesser frequency by agreeing it with revenue - dont think it would be any big deal especially if you have a credible reason for wanting to change it. i reckon that if your vat return is small, they would be more likely to change it as its less paper work for them as well.
but i find that it is good to sit down every 2 months and see the figures for the previous 2 months

BulliteShot

Thanks, I phoned them up and next June the support guy said I'd be able to switch to 6-month VAT3 returns. Better than nothing

dbran

Hi

If you go on direct debit for VAT then you are only required to file one VAT return in the year. It will also normally coincide with your business year end so you can file everything at the same time.

Kind Regards


dbran

BulliteShot

I don't know why this wan't originally setup like that. When I first registered my business, it took them over 4 months to register my business and VAT3 because of an error on the "application" I wasn't notified of. By then I already had 2 overdue VAT3 returns and was sent letters warning me. *sigh* At least they didn't have the nerve to charge me interest.