Reclaiming VAT when you have a Time To Pay
Discussion
Hello PH'ers,
I have a Time to Pay arrangement with HMRC for VAT & PAYE (separate agreements) which lasts for another 30 months. £100,000 was the debt. (Covid debt).
I've just done my VAT return and for the first time ever, they owe me £5,000.
What are the chances of them actually refunding me the VAT?
Should I consider moving a large purchase invoice to next quarter as to not upset the apple cart?
I have a Time to Pay arrangement with HMRC for VAT & PAYE (separate agreements) which lasts for another 30 months. £100,000 was the debt. (Covid debt).
I've just done my VAT return and for the first time ever, they owe me £5,000.
What are the chances of them actually refunding me the VAT?
Should I consider moving a large purchase invoice to next quarter as to not upset the apple cart?
1st off don't worry about anything too much, they're not going to pull the arrangement.
At worst they will take off the refund from the amount owing and reduce the payments accordingly.
To be honest I'd carry on as normal and not move anything around, which may cause a problem if the dates don't match.
At worst they will take off the refund from the amount owing and reduce the payments accordingly.
To be honest I'd carry on as normal and not move anything around, which may cause a problem if the dates don't match.
sleepezy said:
1st off don't worry about anything too much, they're not going to pull the arrangement.
At worst they will take off the refund from the amount owing and reduce the payments accordingly.
To be honest I'd carry on as normal and not move anything around, which may cause a problem if the dates don't match.
Thanks for the info.At worst they will take off the refund from the amount owing and reduce the payments accordingly.
To be honest I'd carry on as normal and not move anything around, which may cause a problem if the dates don't match.
After a bit of digging, I found this article from 2019 but if anybody has any recent experience in this situation then please let me know if you got your refund
https://www.mytipsandadvice.co.uk/2019-03/can-hmrc...
I’m in the same boat with a time to pay. For various reasons I’ve had a refund owed for the 3 quarters. Usually about £8000 each quarter. They have kept every single one. Which I’m ok with. I plan on buying my commercial property I currently lease which will be £50k of vat and I suspect they will keep that as well.
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