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VAT Returns Services | Macnco Legal & Financial Solutions
VAT Returns: Everything you need to know to stay compliant
Reliable, accurate, and fully compliant VAT support—delivered by UK legal and tax professionals.
Filing your VAT Returns correctly and on time is not just good practice—it’s a legal requirement. At MacnCo, we manage every aspect of your VAT obligations, including registration, return preparation, and digital submissions through MTD-compliant systems. Whether you’re newly registered or managing complex VAT structures, we ensure total accuracy and legal compliance.
What Does a VAT Return Involve?
A VAT Return summary that shows the amount of VAT you owe to HMRC or are due to reclaim. Typically submitted quarterly, your return will include:
- VAT charged on sales (output tax)
- VAT paid on purchases (input tax)
- Adjustments for partial exemption, reverse charges, and EC sales (if applicable)
If more VAT is collected than paid, the difference must be paid to HMRC. If more has been paid than collected, you may be eligible for a refund.
Key Legal Obligations for VAT-Registered Businesses
VAT Registration
- Mandatory if your taxable turnover exceeds £90,000 (2024/25 threshold)
- Voluntary registration allowed below the threshold for potential tax advantages
Making Tax Digital (MTD)
- Most VAT-registered businesses must comply with MTD rules
- Requires digital records and submission using HMRC-approved software
- Applies to both standard and flat-rate schemes
Penalties for Non-Compliance
- Late filing or non-payment may result in:
- Financial penalties
- Interest charges
- HMRC investigations
Macnco ensures you avoid these risks through timely and accurate handling of your VAT returns.
VAT Returns Deadlines: When and How to Submit Them
As mentioned earlier, the frequency of your VAT Return submission depends on the size of your business. Here are the deadlines for submitting VAT Returns in the UK:
Annual: If you’re annual VAT taxable turnover is less than £85,000, you can choose to submit an annual VAT Return. The deadline is 12 months after the end of your VAT accounting period.
Quarterly: Most businesses submit their VAT Returns on a quarterly basis. The deadlines are:
- 31 January for the period ending 31 December
- 30 April for the period ending 31 March
- 31 July for the period ending 30 June
- 31 October for the period ending 30 September
- Monthly: If you’re a large business with a VAT taxable turnover of more than £1.35 million, you’re required to submit monthly VAT Returns. The deadline is one month and seven days after the end of the VAT accounting period.
What Macnco VAT Service Covers
Our service is more than just filing forms—we provide full legal and financial oversight of your VAT affairs:
Complete VAT Return Management
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- Calculation of VAT due or reclaimable
- Preparation and online submission of VAT Returns
- Review of VAT classifications for goods and services
Complete VAT Return Management
- Calculation of VAT due or reclaimable
- Preparation and online submission of VAT Returns
- Review of VAT classifications for goods and services
Digital VAT & MTD Integration
- Set-up and training with Xero, QuickBooks, Sage, FreeAgent, etc.
- Digital audit trail creation
- Support for bridging software if you’re transitioning from spreadsheets
Error Reviews & Disclosures
- Identification and correction of VAT errors
- Submission of Voluntary Disclosures to HMRC
- Representation during HMRC reviews or audits
Calculating VAT
The amount of VAT that you owe or can reclaim is calculated as follows:
Output Tax – Input Tax = VAT Due or Reclaimable
Output tax is the VAT you have charged on your sales, while input tax is the VAT you have paid on your purchases.
If the output tax is more than the input tax, you will need to pay the difference to HMRC. If the input tax is more than the output tax, you can claim the difference back as a VAT refund.
Conclusion
How Macnco help in VAT Return
Most VAT returns are completed on a quarterly basis and have to be filed online. Each returns states the output tax (VAT on sales), input tax (VAT on purchases) and the payment to or from HMRC.
Vat Returns are very complicated set of rules and they need careful interpretation. Whether you are a sole trader, limited company director, freelancer or self-employed and you are registered for VAT, we can help you with your quarterly VAT returns.
Using Mac & Co Accountants can save you a lot of time, money and unnecessary stress. From as little as £79, we can file VAT returns on your behalf and advise you of the amount of VAT you need to pay to HMRC and the dates when they need to be paid by. If any refunds are due then will tell you when they are to be refunded.
Frequently Asked Questions – VAT Returns
Do I need to register for VAT if I sell online?
Yes, if you’re taxable turnover exceeds £90,000 in a 12-month period. Also, certain platforms may require VAT registration for compliance or marketplace access.
What if I make a mistake on my VAT Return?
Small errors can usually be corrected on your next return. For significant mistakes (over £10,000), a Voluntary Disclosure must be made to HMRC. We handle both.
Can I use spreadsheets under Making Tax Digital?
Yes, but only with approved bridging software. We can help you transition to fully compliant digital systems.
Is there a penalty for late filing?
Yes—HMRC operates a points-based system under the new penalty regime. Repeated late submissions can trigger escalating fines.