When is VAT due, how do you calculate it and what happens if you miss the deadline? A practical, no-nonsense guide.
VAT is a pass-through item — but VAT return errors are among the most common ones we fix. Here's how to stay on top of it.
How often do you file?
- Monthly — larger companies.
- Quarterly — most common for growing companies.
- Annually — smaller companies with low turnover.
How to calculate
Output VAT (on your sales) minus input VAT (on your purchases) = what you pay or get refunded.
Missed the deadline?
The Tax Agency charges a late fee and interest. With the portal you get reminders in good time so it doesn't happen.
We handle VAT for you in the Start, Grow and Scale plans.