Speed of VAT refund from HMRC
Discussion
I set up a Ltd company last year and registered for VAT soon after.
I did my first return in February and was claiming a small amount of VAT back as we'd paid more than collected.
I could see the VAT account was in the black by the amount expected and thought payment would come through in a week or so but it never materialised.
It was only a small amount so wasn't too bothered but a little concerned by the principal that the funds hadn't been paid.
At the end of the following quarter, the company owed HMRC VAT as the company had collected more VAT than it owed and this was paid minus the amount owed to the company from the previous quarter.
We are now approaching the next quarter and will be owed a larger sum than the first return as we have purchased supplies from the UK on which we've paid VAT and sold overseas so no VAT was chargeable or recoverable.
HMRC say on their website that they pay VAT refunds within 10 working days of receiving a VAT return but that didn't happen when we were owed the small amount, when I queried it by email, they failed to respond at all and they're proving impossible to get through to on the phone.
I'm just wondering how quickly others have recieved VAT refunds when their account is in credit and if anyone has had similar issues with delays.
Any help or advice would be appreciated.
I did my first return in February and was claiming a small amount of VAT back as we'd paid more than collected.
I could see the VAT account was in the black by the amount expected and thought payment would come through in a week or so but it never materialised.
It was only a small amount so wasn't too bothered but a little concerned by the principal that the funds hadn't been paid.
At the end of the following quarter, the company owed HMRC VAT as the company had collected more VAT than it owed and this was paid minus the amount owed to the company from the previous quarter.
We are now approaching the next quarter and will be owed a larger sum than the first return as we have purchased supplies from the UK on which we've paid VAT and sold overseas so no VAT was chargeable or recoverable.
HMRC say on their website that they pay VAT refunds within 10 working days of receiving a VAT return but that didn't happen when we were owed the small amount, when I queried it by email, they failed to respond at all and they're proving impossible to get through to on the phone.
I'm just wondering how quickly others have recieved VAT refunds when their account is in credit and if anyone has had similar issues with delays.
Any help or advice would be appreciated.
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