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Can I pay my VAT ahead of time on ROS before I file my returns?

  • 19-09-2013 1:32pm
    #1
    You Suck!
    Registered Users, Registered Users 2 Posts: 446 ✭✭


    Hi,

    In terms of managing VAT it would be nicer to be able to pay VAT as we receive our cheques instead of doing it retroactively. Would it be possible to pay before we make our returns?


Comments

  • #2
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    There is nothing stopping you from filing your return early, then they will debit/credit that amount within a few days. You can always file an amendment later.

    I have only ever declared vat that I had actually received. No way I would declare the vat on hypothetical future stuff. I think the accounting term for this is "monies received basis".

    http://www.revenue.ie/en/tax/vat/leaflets/moneys-received-basis-accounting.html
    You are free to do this it seems, unless your sales go over £1.25 million?


  • #3
    clarkey1980
    Registered Users, Registered Users 2 Posts: 73 ✭✭clarkey1980


    You Suck! wrote: »
    Hi,

    In terms of managing VAT it would be nicer to be able to pay VAT as we receive our cheques instead of doing it retroactively. Would it be possible to pay before we make our returns?

    Yes you can make payments on account ahead of filing your VAT return on ROS.


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