VAT Panic!!

JodieR

I've just submitted a client's VAT return and realised that there's a direct debit set up to take the money and he's already paid it today! just over £3000. I know in the past a client of mine made the same mistake and didn't realise until after the DD was gone and they couldn't get the money back - just had to pay less on the next time (honestly wasn't my fault that one!!) but do you think that if this man phones his bank first thing tomorrow he'll be able to cancel the direct debit in time? Or is there any point contacting HMRC?

anniem

If he is set up for internet banking then he should be able to go online and cancel the direct debit on his account.

anniem

That was the quick reply, as I could see you were online at the time.

I got a clients VAT Return wrong online the other day and wasn't happy that you can't go back online and submit an amended VAT Return online. Proper pain as I had to file a report and embarassingly tell the new client for whom I had just submitted his first return.

Actually I just went through all my VAT clients today to see who was/wasn't set up for direct debits and went into each individually to print off the pre-completed Direct Debit Mandate to email to each. A bit of a pain as you have to go into each client and download the form; you can't just download the form and fill in the client details and VAT number. I thought it as a useful exercise though.

Hopefully they can cancel the DD on their account in time, if it is for May payment they have tomorrow to contact their bank and it should be set to go out on Monday 11th for the DD. I'm uncertain exactly what the DD guarantee covers?

We all have days like that Jodie ..... bad luck!

Anna x

JodieR

panic over.... just spoke to him and found out that he didn't actually get round to paying it yesterday, I caught him just as he was about to pay it this morning... whew!

today will be a better day

anniem

Great, that's excellent news ..... but I bet you had a sleepless night worrying about it!