A VAT Return indicates the amount of VAT you paid to HMRC, normally four times a year. You can’t submit VAT returns if you are not eligible for VAT. The return on VAT means that the volume of VAT due on transactions is measured minus the sum which can be collected on the purchases. The effect is the cost payable to HMRC. When your tax refund is higher than the revenue owed, HMRC must reimburse you.