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Paying VAT

How frequently do I pay VAT?

VAT is paid quarterly (every three months) from the date of your registration to a VAT scheme.
 

How does Crunch calculate VAT?

The Crunch app calculates VAT based on the Cash Accounting Scheme, which means it is calculated based on the payments received from customers - not on invoices raised - and purchases made in the period.

 

How much do I need to pay?

Crunch will automatically calculate your quarterly VAT returns for you and will let you know how much you owe. To see an overview of your VAT returns, go to the "Tax" tab in the Crunch app.

 

When do I need to pay?

You will be informed in good time by email when your VAT returns are due to be paid.

 

How are VAT returns submitted?

When your next VAT return is due, Crunch will email you to let you know and you will also receive a message on your account. At that time you should make sure your accounts are up to date. Once they are, go to "Tax" and then "VAT Returns" in your Crunch application and select the "View VAT breakdown" option. Please then review the breakdown to ensure the details are correct and you are happy to proceed.

If you have received a payment recently and have not yet entered it, but would like to include it in the current VAT return, please record the payment by clicking on "New Client Payment". Then click "Submit VAT return" when you're happy that everything is correct.

You will then receive an email confirming that your return has been submitted to Crunch and will be filed with HMRC. On completion of Crunch's submission procedure to HMRC, you will receive another email notifying you that your VAT return has been filed and that your payment is required.

 

How do I pay VAT?

By using the Crunch VAT return feature you agree to pay any tax due to HMRC electronically. For more information on how to pay VAT, please refer to the HMRC website here.

 

How do I record my VAT payment in Crunch?

Read the guide here to see how to record VAT in the Crunch app.

 

Flat Rate Scheme Sector Rates (valid from 4th January 2011 until further notice):

Last Updated: 11 Oct 2017 10:06AM BST
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