Your UK company's year with HMRC · Lesson 2 of 5

The VAT quarter

1:08 · Captions: English, Arabic, French and Chinese.

Every quarter, a VAT-registered company turns a pile of receipts into nine numbers, and files them through software. In this lesson, Olivia files hers from her books.

What you'll learn

  • Connect SnapLedger to HMRC, once
  • Prepare the quarter's nine boxes from your books
  • Submit, and keep HMRC's receipt

Step by step

  1. The VAT Return tool — Olivia's quarter ended on 31 October. The VAT Return tool is under Finance.
  2. Connect to HMRC, once — The first time, she connects SnapLedger to HMRC: one sign-in with her Government Gateway, and it stays connected.
  3. The quarter HMRC has open — HMRC lists the quarter that's open: August to October, due on 7 December.
  4. Nine boxes from the books — The nine boxes come straight from her books: the VAT on her sales, the VAT on what she bought, and the sales and purchases behind them. Box five says which way it goes. This quarter, she pays HMRC.
  5. Declare and submit — She checks the figures, ticks the declaration, and submits.
  6. HMRC's receipt — HMRC accepts the return. The form bundle number is her receipt, and it stays with the return.

One quarter, filed straight from the books. Next: payday.