Here at Beany, we want to help make your accounting and business administration a breeze. That's why we sell an add-on to help you complete and file your VAT returns with HMRC. If you're thinking about purchasing this, or you have purchased and want to know what you need to do, then read on.
VAT at Beany
Your quarterly VAT returns are due 1 month and 7 days after the quarter they relate to. For example, the VAT return for the quarter 1 January 2022 - 31 March 2022 will be due 7 May 2022. At the beginning of the month before your VAT return is due to file, you'll receive an email from Beany reminding you to reconcile your Xero file. We'll also follow up with a couple more as it gets closer to the due date.
Once you've reconciled Xero, log into your Beany page and click the "I've reconciled this" button on your dashboard. This lets our team know to start work. Our super-smart accountants review your VAT return and Xero file to make sure your VAT is correct.
Once we've processed your return, we'll email you again to let you know it's ready for review (usually within 3 working days). Log into your Beany page and you'll find the return on your home page waiting for approval. Once you're happy it all makes sense, click the "approve" button and we'll file it with HMRC.
Paying your VAT
Finally, if you have VAT to pay, you'll need to make a payment to HMRC from your internet banking. This is also due 1 month and 7 days after the end of the quarter. We'll send you a reminder to pay a couple of days before it's due.
Sometimes, really really virtuous Spam email filters can get a hold of our emails by mistake. If you think you might not have received our reminder emails, please check your spam folder as we wouldn't want these to slip through the cracks.
Now you can sit back and relax, knowing that your very own Beany accountant is taking care of your VAT each VAT quarter, leaving you to get on with what you do best - running your business!