The commentary below relates to the authority HMRC has to require taxpayers that have a VAT liability of at least £2.3 million during a period of 12 months or less, and do not submit monthly VAT returns, to make payments on account (advance payments) of the VAT due for each VAT return period. For commentary on the requirement for taxpayers that submit VAT returns on an annual basis to make payments on account, see V5.108A.
The statutory provisions relating to VAT payments on account are included in VATA 1994, s 28, SI 1993/2001 and SI 1995/2518, regs 44–48 and provide HMRC with significant powers.
For HMRC information published by HMRC, see Notice 700/12, para 4.5, VAT Manual VPOA1000–VPOA9000 and VAT payments on account on the GOV.UK website.
Which entities does the VAT payments on account regime apply to?
The VAT payments on account regime is relevant to taxpayers that submit VAT returns for periods exceeding one month if the amount of VAT payable, including VAT on imports and movements of goods in and out of
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 21 Mar 2025 09:44