VAT returns: closing the quarter without stress
A calm VAT return is prepared during the quarter, not the night before the deadline. Our four-step method.
The quarterly VAT return comes round four times a year, and four times a year it comes as a surprise. Here is how to avoid that.
Every week: send your documents
Send your purchase and sales invoices as they arrive. Ten minutes a week beats three hours at the end of the quarter.
Every month: check the bank
A payment without an invoice, or an invoice without a payment, is found in a few clicks when you start early.
Before closing: check the special cases
Foreign invoices, credit notes, mixed private and business costs, vehicles: these are where errors creep in.
After filing: set money aside
Put the VAT due into a separate account as soon as your invoices are paid. The amount payable will no longer be an unpleasant surprise.
Now that electronic invoicing between businesses is the rule, much of this work happens automatically. Make the most of it.