When is my VAT due?

[rd409]

My invoices were raised during September 2010, and were only paid on 1st of November, due to number of reasons. The invoices that have been paid does not include VAT, as I had to raise a VAT adjustment invoice for each and they are payable by the end of this month.

I have to file my VAT for last quarter, but I have not been paid anything in that quarter as such. What is the VAT that I have to file? Am I suppose to consider the date when the invoices are raised, or when they are paid? Further do I have to pay for VAT even if the VAT adjustment invoices are not yet paid, or should I be proactive(?) and pay the VAT?

Any help is appreciated. Thanks in advance.

[Craig@Clarity]

My invoices were raised during September 2010, and were only paid on 1st of November, due to number of reasons. The invoices that have been paid does not include VAT, as I had to raise a VAT adjustment invoice for each and they are payable by the end of this month.

I have to file my VAT for last quarter, but I have not been paid anything in that quarter as such. What is the VAT that I have to file? Am I suppose to consider the date when the invoices are raised, or when they are paid? Further do I have to pay for VAT even if the VAT adjustment invoices are not yet paid, or should I be proactive(?) and pay the VAT?

Any help is appreciated. Thanks in advance.

It depends on your VAT quarter end and whether you have decided to go with invoice basis or cash basis for VAT. If it is invoice basis then you should be declaring your invoices and VAT according to the invoice date/tax point date of your invoices. If you operate a cash basis for VAT, it means you only declare your invoices and VAT when you receive the money from your client. There are no forms to opt into one or the other but whichever you choose, you should stick to it and not chop and change.

You need to register to file your VAT returns online if you haven't done so already. If your VAT quarter was 31 October 2010, you have until the end of the month to file the return.

[SueEllen]

I have to file my VAT for last quarter, but I have not been paid anything in that quarter as such. What is the VAT that I have to file? Am I suppose to consider the date when the invoices are raised, or when they are paid? Further do I have to pay for VAT even if the VAT adjustment invoices are not yet paid, or should I be proactive(?) and pay the VAT?

As you have problem payers do it on a cash basis i.e. pay your VAT in the quarter when your clients pay you. That way you will have less problems with cashflow.