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Vat Refunds

Blonde AccountantBlonde Accountant Feels At HomeRegistered Posts: 86
in General accounting discussion
Hi, I wonder if anyone could please help me with this. I have a client who is registered to submit their vat returns online. I know that when you do this and have set up a DD, HMRC take the money by about the 12th of the next month. My question is when do they issue refunds? For example, my client wants me come really early in the month to do his next return as he is due a refund, but will they issue it early or will they still wait till the end of the month.

Thanks

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Its the 10th of the month for payments. For refunds, it should be about a week after they receive the e-return, they won't wait til the due date.
  • Blonde AccountantBlonde Accountant Feels At Home Registered Posts: 86
    Thank-you, that really helps. x
  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    Agreed! Quicker you submit the form, quicker you get the payment!
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