If you are VAT-registered, as well as filing your VAT return after each VAT period, you must also file an Annual Return of Trading Details (RTD). This form is used to list your total purchases and sales for the year, broken down by their VAT rate.
The form must be filed by the 23rd of the month following the end of your accounting period. It is important your RTD matches the information filed in your VAT returns for the relevant period as discrepancies could trigger Revenue queries that can be time-consuming to resolve.
In our experience, historically Revenue did not always follow up on missing RTDs however we have recently noticed an uptick in the checking of these forms so it is important to ensure that you file your return on time. Late filing could delay any tax refunds that you might be due and/or could mean that you cannot obtain a tax clearance certificate.
