Vat Account: Vat Account to be clearly stated regarding total output tax, total input tax and net tax payable or excess tax credit which to be refunded or adjusted with the output tax. Details of input tax calculation should be properly documented.

Keeping records for VAT - invoices, VAT account, signing up for Making Tax Digital for VAT, sales and purchase records for reclaiming VAT.

The VAT3 return records the VAT payable or reclaimable by you in your taxable period. If your VAT return is a repayable amount, you must have your VAT repayment made directly to an account in a financial institution. However, your repayments may be withhe