Paying your VAT bill would be complicated enough without being able to do so digitally. Fortunately, the days of filing your taxes using pen and paper are long gone, and it’s easier than ever for businesses to pay their VAT to HMRC online. This guide will explore the different methods of doing so, helping businesses like yours navigate VAT online payments to HMRC with ease.
Although VAT is a consumer-only tax, businesses do initially have to pay it on goods and services they buy but are then able to claim this back from HMRC. This is provided they have paid out more VAT than they’ve collected in the relevant tax period.
However, it can take up to 30 days for businesses to be refunded by HMRC, something that can cause significant financial uncertainty. But with Adsum’s Instant VAT Refund service, we’ll advance these funds within 60 minutes, ensuring that you’re not faced with a deficit because of your VAT bill.
But before you get to the stage of reclaiming VAT, let’s explore how to pay it in the first place.