VAT Compliances in UK
You usually need to send a VAT Return to HM Revenue and Customs (HMRC) every 3 months. This is known as your accounting period. If you're registered for VAT, you must submit a VAT Return even if you have no VAT to pay or reclaim. The deadline for submitting your return online is usually one calendar month and 7 days after the end of an accounting period. This is also the deadline for paying HMRC. For example the VAT return for Q1 (01 Jan to 31 Mar) should be filed by 07 May.
Usually, VAT-registered businesses submit their VAT Returns and payments to HM Revenue and Customs 4 times a year. With the Annual Accounting Scheme you make advance VAT payments towards your VAT bill - based on your last return (or estimated if you're new to VAT)submit 1 VAT Return a year.
When you submit your VAT Return you either make a final payment - the difference between your advance payments and actual VAT bill apply for a refund - if you've overpaid your VAT bill. The scheme would not suit your business if you regularly reclaim VAT because you'll only be able to get 1 refund a year (when you submit the VAT Return).
You can join the scheme if your estimated VAT taxable turnover is £1.35 million or less.
You cannot use the scheme if you left the scheme in the last 12 months, your business is part of a VAT registered division or group of companies, you're not up to date with your VAT Returns or payments or you're insolvent.
You must leave the scheme if you're no longer eligible to be in it your VAT taxable turnover is (or is likely to be) more than £1.6 million at the end of the annual accounting year.
You must make advance payments towards your VAT bill (either monthly or quarterly) during your accounting period and a final payment when you submit your VAT Return.
| Payment | Deadline |
|---|---|
| Monthly | Due at the end of months 4, 5, 6, 7, 8, 9, 10, 11 and 12 |
| Quarterly | Due at the end of months 4, 7 and 10 |
| Final payment | Within 2 months of month 12 |
VAT Compliances in Spain
Vat return under General Scheme for Quarterly self-assessments should be filed as per the following rules:
From 1st-20th of the month following the settlement period (April, July and October).
The self-assessment for the fourth quarter shall be filed between 1 and 30 January.
For Monthly self-assessments:
From 1 to 30 of the month following the settlement period, or until the last day of February in the case of the self-assessment corresponding to the month of January.
In the event that the last day for submitting the VAT self-assessment is non-business day (Saturday is a non-business day), the submission deadline is moved to the immediately following business day.
VAT Compliances in Italy
It is necessary to have a VAT number in order to start a business or a professional activity relevant for VAT purpose in Italy. VAT registration is obligatory for anyone involved in business, agricultural activity or an artistic or professional activity on a regular basis. VAT registration is due prior to the provision of any supplies. The VAT registration threshold of €35,000 per annum in case the supplies are the sale of goods via internet.
If returns are submitted on a monthly basis, payment of the tax and submission of the return must occur no later than the 16th day of the month following the settlement month.
There is a possibility to choose the submission of the quarterly VAT return for the taxpayers with an annual turnover of less than €500,000 for supplies of services or €800,000 for other activities or belonging to certain categories.
Those entities shall file the VAT return and pay the VAT due for the first three quarters of a calendar year by the 16th day of the second month following each quarter; the VAT return for the fourth and last quarter must be submitted by 16 March of the following year.
Additionally, by December 27th of each year, all taxpayers must pay the advance VAT payment. They shall pay in advance on their VAT bill for the month of December if they file monthly VAT returns or on their VAT bill for the fourth quarter if they file quarterly VAT returns.
Additionally, each year the taxpayers who carry out a business, art, or profession must submit an annual VAT return covering all the transactions carried out in the previous year.
VAT Compliances in Germany
Business can submit monthly or quarterly VAT return .Small businesses are exempt from filing advance VAT return. Based on previous year tax liability return type is determined. If in previous calendar year VAT liability was more than €9,000 you must file advance VAT return in the current year.
The advance VAT return must be submitted electronically to the tax office no later than the 10th day after the end of the advance return period (quarter, month).
Example:
If you are required to submit a monthly return, the advance VAT return for the month of August must be submitted by Sep. 10. In the case of quarterly submission, you must submit the advance return for the 2nd calendar quarter to the tax office by July 10.
If the 10th day is a holiday the submission deadline ends on the next working day.
Business must also submit an annual VAT return to the tax office for the previous calendar year. The annual VAT return in Germany is generally submitted by 31 July of the year following the reporting period.