FreeAgent + VAT Return: Complete Workflow
Preparing for vat return and using FreeAgent? Quarterly VAT returns require matching bank transactions to sales and purchase invoices. Working from PDF statements adds unnecessary time to an already tight deadline. BankScan AI bridges the gap between your bank's PDF statements and FreeAgent's import feature.
BankScan AI → FreeAgent for VAT Return
Convert bank statement PDFs to CSV / OFX formatted for FreeAgent import. Convert bank statements to Excel to quickly identify VAT-bearing transactions, match against invoices, and prepare your VAT return accurately.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload 3 months per VAT quarter (standard scheme); 12 months for annual accounting scheme users of statements.
AI formats for FreeAgent
Output as CSV / OFX with Date, Description, Amount (single column) — FreeAgent also accepts OFX files which skip the column mapping step entirely — dates in DD/MM/YYYY.
Import and use for vat return
Upload into FreeAgent and use the reconciled data for vat return.
Supported Banks
BankScan AI works with all major UK and US banks, including:
FreeAgent + VAT Return Features
- FreeAgent ready — Output formatted as CSV / OFX matching FreeAgent's expected column structure
- Smart integration — FreeAgent automatically estimates your tax bill in real-time as transactions are imported, giving sole traders an up-to-date picture of their tax liability.
- Built for VAT Return — Convert bank statements to Excel to quickly identify VAT-bearing transactions, match against invoices, and prepare your VAT return accurately.
Import for VAT Return into FreeAgent
After converting your bank statements for vat return:
- In FreeAgent, go to Banking > select your account > Import Bank Statement
- Choose CSV or OFX format, upload the file, and FreeAgent will parse the transactions automatically
Common Import Issues
FreeAgent can struggle with CSV files that have extra header rows or summary rows at the bottom. Ensure only transaction data rows are included.
FreeAgent Import for VAT Return
VAT returns due 1 month and 7 days after the end of the VAT quarter; late submission triggers a surcharge of up to 15% of VAT owed under the default surcharge regime
Convert for FreeAgent + VAT Return