VAtT- due date help

[ukbob]

Got a form which says its due today. Im just about to run down to the post box and post off a cheque.

They wont receive it until tomorrow. Am I likely to be "penalised"

About a year ago, I was late once (by a month) and was told that if I was late again, they would not ask for my vat returns, they would demand a fixed fee from me and I would loose the privalege of submitting my vat return. Or something. I cant remember what they said exactly.

Any ideas what might happen? I really dont want to have a fixed vat fee due every 3 months

[aliged]

Get on the phone absolutely immediately to them. They are there to help and will respond in a more positive manner if you communicate with them.

[ehasler]

Is this your VAT return?

If so, the following may help:

http://customs.hmrc.gov.uk/channelsPortalWebApp/chan

I've sent a few returns in late in my time, and as long as you don't do it again within the next 12 months you'll be fine.

[Eric Mc]

You might get charged a penalty for the late return and possibly an interest charge due to the liability being paid late. However, you will not receive any sort of estimated assessment (which is what would happen if they didn't receive a return at all).

Even if they had raised an estimated assessment, it would be replaced by the correct amount once they had received the VAT return itself.

If you make a habit of being late with your returns, you will move up the list of likely candidates for a VAT inspection.

>> Edited by Eric Mc on Tuesday 31st January 15:04

[PetrolTed]

I lost my form last week. Spoke to them and they were very helpful. I paid via BACS and then will send the form off tomorrow. That gives you and extra 7 days apparently.

[ehasler]

You get an extra 7 days anyway if you pay electronically

[ukbob]

ehasler said:

Is this your VAT return?

Yes, sorry... its a vat return.

PetrolTed said:

I lost my form last week. Spoke to them and they were very helpful. I paid via BACS and then will send the form off tomorrow. That gives you and extra 7 days apparently.

Thats good to know. About time I signed up for an account (or is it chaps that you have to sign up for, I cant remember)

ehasler said:

You get an extra 7 days anyway if you pay electronically

Ive just signed up for net banking, is it possible to do a standard transfer to them?

[ukbob]

I called them, and they said yes.. if its one day late, you get a penalty and it goes on your record.

But... ive not been late in the last 12 months, so Ive got no worries.

[ehasler]

ukbob said:

ehasler said: You get an extra 7 days anyway if you pay electronically Ive just signed up for net banking, is it possible to do a standard transfer to them?

Yep - they should give their account number and sort code on the VAT return, and you use your VAT number as the reference.

[Eric Mc]

You can always submit your quarterly VAT information on a photocopied blank return. The VAT people aren't that worried if it is not the original blank form they sent you - as long as the form submitted carries an original signature.

It is always good practice to photocopy or scan the return before you send it off. Therefore, you could use an earlier copy as the basis for a "master" blank for use in emergencies.

>> Edited by Eric Mc on Tuesday 31st January 17:56