Vat refund

[Scotty14]

Hi guys so we are due a vat refund, just under couple of grand.

Vat online account says bank giro authorised 27th September- but nothing showing in our bank account ?

How long does this usually take

[sgrimshaw]

Normally get ours within 5-7 days

[MOBB]

Did you take advantage of the deferred VAT quarter last year, and paying it back monthly?

We are due a small refund for the last quarter and havent had it, I wonder if they are holding back refunds if you owe them deferred VAT?

[Craivold]

We're in the same situation on this. New business setup and we were due 800 on our first return and 2.5k on our second. VAT dashboard online says they've sent the money but had a call from an HMRC agent after the first return saying they'll be checking all VAT refunds at the moment and to expect another phone call to go through our return. I never got the other call. And still no sign of the money. I'm guessing it's due to COVID and HMRC having less cash than they would like at the moment. The business luckily is now in profit and will owe some VAT on the next return so we're probably going to knock off what HMRC owes us and hope that they query it with us then and we straighten it out.

[PurpleFox]

I did my first return just over a month ago, new company, due just over £8k back, no idea when to expect it.

Do you guys do the return yourself or have an accountant do it? My accountant did mine but wondering if going forward it is something I could do. I haven't seen a VAT dashboard but will look into it.

[softtop]

PurpleFox said:

I did my first return just over a month ago, new company, due just over £8k back, no idea when to expect it.

Do you guys do the return yourself or have an accountant do it? My accountant did mine but wondering if going forward it is something I could do. I haven't seen a VAT dashboard but will look into it.

it is very simple, sales in and out and it works out your number.

[PurpleFox]

softtop said:

it is very simple, sales in and out and it works out your number.

Yeah I am aware of the calculation, I had to compile it all for my accountant but he did the actual submission, that's what I was meaning.

[anonymous-user]

You just need a government gateway ID, then it's just submit online, same boxes as the paper return.

[anonymous-user]

Craivold said:

The business luckily is now in profit and will owe some VAT on the next return so we're probably going to knock off what HMRC owes us and hope that they query it with us then and we straighten it out.

I wouldn't do that, last time HMRC owed me money back it was like having teeth pulled and I was made to feel like a criminal for requesting what was mine! Never mind the ££££ they've had from me over the last 20 years eh?

[Scotty14]

Now these halfwits have cancelled the bank transfer and “payable order authorised”

We Bank with revolut which I’ve explained to hmrc.

Question is what do we do with this payable order ?

[Seventy]

Scotty14 said:

Now these halfwits have cancelled the bank transfer and “payable order authorised”

We Bank with revolut which I’ve explained to hmrc.

Question is what do we do with this payable order ?

Well, I can tell you from experience that my ‘payable order’ was a physical cheque and took about 8 weeks to arrive.

Do they have your up to date bank details?