Quaterly return for contractor

Building contractors with an annual turnover below £2 crore can take advantage of the Quarterly Return Monthly Payment (QRMP) scheme. This allows for the quarterly filing of GSTR 1 and GSTR 3B. While GSTR 1 can be filed quarterly, B2B invoices need to be reported monthly using the Invoice Furnishing Facility (IFF). GSTR 3B is also filed quarterly, but tax payments must still be made on a monthly basis.