We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Loaned a friend VAT money - Any way to get it back!
Comments
-
-
Bedsit_Bob wrote: »Unless they're from an unregistered PAYG phone, in which case he could deny it's his phone and, therefore, not his text messages.
It's still evidence. If there's a conflict in the evidence, the court will decide which it wants to believe on the balance of probability.No reliance should be placed on the above! Absolutely none, do you hear?0 -
I hate to be the bearer of bad news BUT:
1 The VAT that you leant to your mate was not yours to lend. You collected that VAT on behalf of HM Revenue & Customs.
2 If you do not/cannot pay this to HM Revenue & Customs you run the risk of a VAT inspection which will likely conclude that you have commited VAT fraud. And you will be hauled to the Crown Court.
3 If you are a Limited Company then HM Revenue & Customs will report you to Companies House for defrauding the Crown and your company will be struck off and you will be banned from being a company director for a number of years.
Like the other on here have said, you can go after your friend through the courts and they will likely make an award in your favour. However, the chances of you enforcing the debt will take a very long time and you will likely be unsuccessful in the end.
Businesses go bust all the time without all that happening. The money was set aside by the OP to pay his VAT, and now he can't pay it. So, it's possible his business is insolvent. Or he is, if he is not trading through a limited company.No reliance should be placed on the above! Absolutely none, do you hear?0
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards