VAT Payment Methods and Deadlines

Understanding payment methods and meeting deadlines is crucial for VAT compliance.

Payment Methods Available

Direct Debit

• Automatic collection
• 3 working days to process
• Guaranteed on-time payment

Online Banking

• Faster Payments
• BACS (3 working days)
• CHAPS (same day)

Other Methods

• Standing order
• Bank Giro
• Corporate credit card

Payment Deadlines

• Direct Debit: 3 working days after submission
• Electronic transfer: Funds must clear by due date
• Different deadlines for annual accounting scheme