VAT Returns - Post dated cheque

[BliarOut]

My VAT return is due by the 28th of this month. Can I send it today and date the cheque for the 28th or do they need cleared payment by the due date?

[Eric Mc]

Generally, they seem to accept cheques dated right up to the due payment date.
I've had no problems with clients posting off cheques dated on the last payment date.

[BliarOut]

Thanks Eric. No point giving them the money any sooner than I need to

[/CaseClosed]

[stepej]

If you do it all on-line don't you get an extra week?

...or am I having a senior moment?

[Eric Mc]

Correct.

In fact, if you complete the return on paper in the "old fashionerd way" and submit by post but PAY electronically you get the extra seven days too.

[arfur]

The cheque will be cleared before the 28th ... does not matter what date you put on it or iff you sign it M Mouse ... they will take the £ as soon as it is processed ( normally before midday on the day it is delivered ). There is no 'clearance' time for HMRC .. The cheque is automatically cleared and the monies removed from your account. If I remember correctly, you cant even bounce a cheque to C&E ..

Do it online .. sign up and get a few days grace ... DD can not be taken ealier

[stevieb]

arfur said:

If I remember correctly, you cant even bounce a cheque to C&E ..

Oh you can bouch a cheque to HMRC, if there is no money in the account the tough luck the bank wont way your debts to HMRC. They get quite nasty if you send a cheque and it bounces, A business friend had one bounce and courts were onto him within 14 days, and 28 days was bayliff time..

They seem to be quick on getting the money in but poor on giving t out still waiting on my tax rebate from 2004.

[Eric Mc]

Why have you been waiting so long?

What is your accountant up to?

[stevieb]

Eric Mc said:

Why have you been waiting so long?

What is your accountant up to?

You talking to me eric?

If so i am still waiting for my P87 to be processed for 2004/05 as the comapany i worked for went to the wall! The tax office are unable to find my tax records etc, but i have provided them with my payslips bank statements and P60 & P45 for the year but am still waiting!

Oh the joys of HMRC

Eric Mc said:

What is your accountant up to?

My wife (AAT & studying for ATT. Not a proper accountant)is now catching up with my tax affairs which i have been rather lazy with!

Edited by stevieb on Wednesday 21st February 14:01

[Eric Mc]

I've come across some very good AATs and I am an ATT myself (as well as ACCA).

Best of luck to her in her studies.