Can I reclaim overpayment from a central assessment figure?

I massively overpaid on my first VAT return in 2024 as it was a central assessment figure, I panicked and just paid it. Can overpaid central assessments be reclaimed?

You can either call HMRC and request any credit to be refunded back to your business bank account, or you can leave the credit sitting on your VAT account and when filing your next VAT return, whatever your liability is will be taken from the credit. Always best to file VAT returns when they are due and not wait for central assessments as it just means more work for you in having to call or write to HMRC to fix things.

Hi Nathanwcan,
Yes when you submit the return which you have had the central assessment for then this assessment will be withdrawn and the monies paid back to you.
It is possible that a credit will be produced on your account and not repaid automatically and if this is the case then please contact our Helpline on 0300 200 3700 for us to release it to you.
Thank you.