cheque from the vatman...

shamac

My husband is closing his business and we have just got our final accountants bill with the vat on it. Normally we would claim this back when we do our next vat return-however it willbe paid with a cheque in the company name. Problem is i was just about to close the bank account so won't be able to cash it-any way i can without putting it in the company bank account?

Mikeyorks

Unless you're prepared to pay it via a cheque encasher (very unwise and expensive despite an HMRC cheque carries lower charges because it is less risk to them) .... looks as though you're being premature closing the account? As the cheque is payable to the business - you won't be able to pay it into your personal account

ceeforcat

In no way do I know the exact answer to this but, as Mikeyorks says, I think you are closing the account too soon. If it were me I would have the account in overdraft equivalent to the proposed VAT refund at this point i.e. take the money out now - not a scientific solution I know but seems a way out to me!