VAT OBLIGATIONS IN THE UNITED KINGDOM

How is the tax period determined in Belgium? 

Monthly/Tri-Monthly/Yearly

Your company has to report its VAT position by filing periodical VAT returns on tri-monthly basis [three months which do not necessarily correspond to a calendar quarter]. Monthly reporting period can be opted for in case your company is regularly in a VAT receiving position. Opting for a yearly reporting period is also possible under conditions [VAT annual accounting scheme].

When should periodical VAT return be filed?

Your company has to file periodical VAT returns by electronic means before the 7th day of the second month [7 of N+2] following the tax period [e.g. tax period ending in March 31st => deadline: May 7th].

VAT Directive

The tax period shall be set by each Member State at one month, two months or three months. Member States may, however, set different tax periods provided those ones do not exceed one year. The VAT return shall be submitted by a deadline to be determined by Member States. That deadline may not be more than two months after the end of each tax period.

Is this requirement laid down in the country and what is the filing deadline?

No

Your company is not required to file any summarizing annual VAT return in the United Kingdom.

VAT Directive

Member State may require taxable persons to submit a return in respect to all transactions carried out in the preceding year. That return shall provide all the information necessary for any adjustments.

 

Are quarterly filings allowed by the country and what is the filing deadline?

Your company is required to submit ESL by electronic means for each calendar quarter [but may choose to submit monthly if you prefer] provided your intra-EU supplies of goods have not exceeded GBP 35.000 within the current or four previous quarters. If your company exceeds the above threshold, you must submit the ESL on a monthly basis. The deadline for submitting ESL to HMRC, for all frequencies of submissions are within 21 days of the end of the reporting period.

VAT Directive

The recapitulative statement shall be drawn up for each calendar month. However, Member States, in accordance with the conditions and limits which they may lay down, may allow taxable persons to submit the recapitulative statement on each calendar quarter where the total quarterly amount of intra-EU supplies of goods does not exceed either in respect of the quarter concerned or of any of the previous four quarters the sum of € 50.000 or its equivalent in national currency. The recapitulative statement shall be submitted within a period not exceeding one month.

What is the payment deadline?

The deadline when your electronic payment should clear into HMRC's bank account is usually the same as the deadline for your return. You should check with your bank how long it will take for your payment to clear into HMRC's bank account as some methods of payment do not operate over the weekend or on  bank holidays.

Are interim payments required?

Interim payments are not required [unless in case of annual VAT return or for every VAT registered company filing quarterly VAT returns but with annual VAT liability of more than GBP 2.3 million, it is required to make payments on account].

VAT Directive

Any taxable person liable for the payment of the VAT must pay the net amount of the VAT when submitting the VAT return. Member States may, however, set a different date for payment of that amount. Member States may require interim payment to be made.

 

Is any VAT credit automatically carried forward or refunded?

No carry-forward mechanism. Refund is done immediately by submitting the periodic VAT return.

 

VAT Directive

Where, for a given tax period, the amount of deductions exceeds the amount of VAT due, the Member States may, in accordance with conditions which they shall determine, either make a refund or carry the excess forward to the following period. However, Member States may refuse to refund or carry forward if the amount of excess is insignificant.