Description
A VAT return is a form you file with HMRC, usually four times a year, to show how much VAT you are due to pay them. If you’re not registered for VAT, you won’t file VAT returns.
The VAT return shows the calculation of the amount of VAT due on sales minus the amount of VAT reclaimable on purchases. The result is the amount payable to HMRC.
If the amount reclaimable on purchases is more than the amount due on sales, HMRC will give you the difference back!
