VAT returns for 2012

Just a quick note to remind you all that your VAT returns for the last period of 2012 are due on the 19th of January. This goes for whether you file quarterly, bi-monthly or annually, they all fall due on the 19th if you file electronically or even by paper.

What do we need to do for you: Get all of your VAT figures on trading from the period and estimate your VAT bill or refund depending on what figures you supply. Remember, if you are self employed and made a tax return in Oct/Nov on 2011 income, that you still have to settle your VAT bill as the periods arise (meaning it won’t factor into your income tax this is a separate matter altogether).

What happens next: We use the Revenue online service to make the return and keep you up to date.

What happens if you don’t: While Revenue don’t always apply penalties, late charges and interest if you file shortly after the deadline, the fact is that you should never run that risk, it holds no advantage to file your taxes late and the law states this explicitly.

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