You’ll usually need to pay your VAT bill to HM Revenue and Customs (HMRC) by the deadline shown on your VAT return.
What are the deadlines for filing and paying your VAT returns?
Quarterly – if you file your VAT returns quarterly, you must file them online with HMRC and pay your bill by midnight one calendar month and seven days after the quarter ends. if you filing your VAT return for the quarter, this signifies. That implies that if you’re filing a VAT return for the quarter ending March 31, 2017/ the deadline to pay your bill is May 7, 2017.
Annually – Some businesses use the annual accounting scheme for VAT purposes. In that case, you submit your VAT return once a year and have to make advance payments towards your VAT bill for the next year based on your last return must be filed and paid two months after the end of your accounting period.
HMRC may require you to submit and pay your VAT return on a monthly basis if you have had trouble making payments in the past or if you routinely exceed the quarterly payment threshold. In this situation, you have one month and seven days following the end of the period to file your return and make your payment. if your term ends on December 31, 2017, you must submit your return and payment by February 7, 2017.
Making a VAT payment
You will either be due a payback or you will be required to make a payment to HMRC once you have filed your VAT return. Setting up a direct debit is the most convenient way to pay your VAT. Then, whether you are due a payback or a payment has been made, all you have to do is file your return and everything else will be taken care of on your behalf
There are a few alternative payment options, but you will have to do everything manually because all VAT payments must clear in HMRC’s account by the deadline, you’ll need to be aware of the processing delays.
Payments can be done over the phone or online, their alternatives would be to pay by card but then can take up three working days.