Health shop: VAT repayments

VAT repayments may be made to VAT registered businesses if they pay out more in VAT on their purchases than they charge on their sales.

A VAT Return is completed every quarter, setting the VAT paid against the VAT owed to HM Revenue & Customs (HMRC). If a repayment is due to you it will normally be paid direct into your business bank account a month or so after you have submitted the Return claiming it.