When Should I File VAT?
Your limited company’s accounting period determines how often the company should file VAT. You choose the accounting period when the company is registered for VAT with the Tax Agency. To avoid unnecessary fees from the Tax Agency, it’s important to keep track of your accounting period and submit your VAT return on time. There are two simple ways to find out what accounting period (i.e., how often you should file VAT) your company has:
- Log in to the Tax Agency
- Check the company’s registration certificate (also called registry extract)
Option 1: The Tax Agency
1. Log In to the Tax Agency
Visit the Tax Agency’s website and log in with your BankID or other e-identification.
2. Represent Your Limited Company
When you are logged in, choose the option to represent your limited company. This is necessary to be able to see the information for your specific company.
3. Find VAT Information
Click on VAT Information which you can find in the menu.
4. Check Accounting Period
Under the heading Accounting Period, you will find clearly stated which period applies to your specific company. Common options are monthly, quarterly, or yearly accounting.
Option 2: Registration Certificate
You can also find your accounting period for VAT by checking the company’s registration certificate (also called registry extract). The registration certificate is a document you receive from the Tax Agency after you have registered the company. If you don’t have the document close at hand, you can easily download it from the Tax Agency via this link.
Why Is It Important to Know Your Accounting Period?
Your VAT return must be submitted to the Tax Agency according to the registered period to avoid any late fees. If you have monthly accounting, it means you should file every month, quarterly means every quarter, and yearly once a year.
By regularly checking your accounting period, you ensure that your company is always in phase with the Tax Agency’s requirements and can avoid unnecessary costs and stress moments.
Let Stowit Handle Your VAT Accounting
Stowit is created from the ground up to make it as easy and affordable as possible for company owners to handle all necessary company admin (bookkeeping, accounting, tax returns, annual reports, etc.), so you can spend your time and money on more fun things. Put your feet up and enjoy while Stowit takes care of all the boring stuff for you!
