misfitsapparel
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RE: HMRC calculated first VAT return what happens with my money now?
Hi Jay, Thanks for your reply, the problem was that i did leave it 2 weeks after submitting my return before i paid the amount, the return was showing in my account and showed i had £219 to reclaim however it was still showing that i owed the £4,487.67 the estimated amount and did not change, with me keep recieving letters saying that i owed £4,487.67 and the fines increading daily i thought i had to pay it to then reclaim it back, i did not bank transfer it i just used the pay now option so i did not have to put a reference just paid using my card, i paid the £85 fine the same way and both disappeared off my account so HMRC definitely know ive paid both amounts on my account, it's just it only shows that i have £219 to reclaim instead of the £5,097, it does say my return is still in further checks from the 27th august so I'll give it a few more days to see if it reflects on my account and if not i'll give them a call. Thanks for your help! -
HMRC calculated first VAT return what happens with my money now?
Hi, I was supposed to register for VAT in January, but i didnt realise i was over the threshold at the time so i didnt register and submit my first VAT return until late, My first VAT return was from Jan-June, because my first VAT return was late HMRC estimitated that i have £4,487.67 to pay for my first VAT return. i had an accountant sort my VAT return for me and i don't owe HMRC any money for my first return i have £219.71 to reclaim, we submitted my VAT return 2 weeks ago and my accountant told me that the amount that i owe should change after a few days but it never it stayed at £4,487.67 .. i went away on holiday for a week come back and ive had 2 letters whilst away saying that i owe £4,487.67 and the longer it goes unpaid the more interest i will pay, so i just paid the £4,487.67 and the fine last week. My account shows that HMRC owe me £219.71 .... so what happens to the £4,487.67 that ive paid now that i shouldnt have had to pay? I should be refunded this but it does not reflect in my account anywhere, my accountant also says i should be refunded the £87 i paid in fines as it was 2% of the total £4,487.67 figure but obviously i shouldn't have had to pay that £4,487.67. It doesn't seem very clear whats happened or will happen to my money? Any help appreciatted thank you!