File online VAT returns for just £5 with Reckon
Track and manage VAT, then easily create and submit your VAT returns online to HMRC.
What is a VAT return?
Your VAT Return summarises your income and expenses for the period and any VAT you need to pay or reclaim from Her Majesty’s Revenue and Customs (HMRC). The majority of businesses are required to submit an online VAT Return to the HMRC every 3 months. This period of time is known as your ‘accounting period.’ Your VAT Return includes information such as:
- your total sales and purchases
- the amount of VAT you owe
- the amount of VAT you can reclaim
- what your VAT refund is
File your VAT return online & be MTD compliant
Since 1 April 2019, businesses with a taxable turnover above the VAT threshold will need to have a Making Tax Digital (MTD) ready software in place to keep records digitally and submit online VAT returns to HMRC via their software. MTD is a key HMRC initiative that changed the way the UK tax system works, transforming tax administration processes for the better and modernising the way your business is required to interact with the HMRC.
HMRC compliant online VAT returns
As an HMRC-recognised VAT software provider, Reckon lets you easily file your VAT return online for just £5. All you need to do to get started is sign up your business with HMRC using your existing Government Gateway Login and VAT Number. Once you’ve authorised Reckon One to connect with HMRC, you’ll be able to submit online VAT Returns directly from your Reckon One book in just a few clicks.
Track & file your online VAT returns with ease
To ensure your VAT Returns are accurate you simply need to assign the VAT rate to your transactions throughout your accounting period. When it come time to submit your online VAT return, Reckon One makes this easy by automatically calculating the VAT due and preparing a report based on VAT scheme and rates you choose when entering those transactions.