VAT returns are a consumption tax that you have to pay to HMRC according to
your product’s value that you are providing in the market. Every company has to
pay its VAT four times a year. For that purpose, your company must be registered to HMRC. If there is any error identified through them, it can result in
further interest and penalties on your VAT returns.
There is a VAT returns calculator that helps to determine your total VAT tax
according to your product sale. It shows the amount of VAT due on sales by
subtracting it through the reclaimable amount. As a result, you can have the
amount payable to HMRC. VAT returns filing can be a complex process;