What do you report?
In your VAT return, you pay the VAT you charged on your invoices. Each quarter includes all invoices sent during that period, regardless of whether they’ve been paid.
You can reduce the VAT payable by deducting VAT on business expenses. This is called input VAT.
When do you file a VAT return?
You must file VAT returns quarterly, in the month following the quarter:
Q1 (Jan–Mar) → file between April 1–30
Q2 (Apr–Jun) → file between July 1–31
Q3 (Jul–Sep) → file between October 1–31
Q4 (Oct–Dec) → file between January 1–31
Payment is made in the same month as the filing. You won’t receive a letter—you must transfer the amount yourself.
What is an ICP return?
If you supply goods or services to businesses in other EU countries, this is called an intra-community supply. VAT is 0% because it’s reverse-charged to the customer.
You must then submit an ICP return (intra-community transactions report). This also includes foreign expenses. Don’t worry—The Bookie files this together with your VAT return.