How long does it take to recieve a VAT refund?

shelovestobuystuff

Trading at a big loss the last 3 months so my VAT return should give me an £800 refund this quarter.Never had a refund before,does anyone know how long they usually take to pay out?

paulwf

Try calling HMRC as they can give you accurate advice including the expected timescale that is applicable to your circumstances. They've always been friendly and helpful when I've asked them questions like this.

shakedog

has anyone come across a company called personal debt consultants based in Manchester who trade under Kando Finance Ltd. They offer a course for £1000 to train to become a PDC and then supply leads at different prices?

tramps

If you have done the VAT return online they usually pay the reclaim into your bank account with in a week. I did my second ever VAT reclaim beginning of this month and the money showed on my account very quickly.

Bean_Counter

shelovestobuystuff wrote: »

Trading at a big loss the last 3 months so my VAT return should give me an £800 refund this quarter.Never had a refund before,does anyone know how long they usually take to pay out?

If this is the first VAT refund that you have had, I think it will be held up pending a check. My experience of is that this is becoming more frequent, as HMRc want to assure themselves that the refund is genuine.

Add another week or so after for the repayment to hit your bank account.

I would call and chase it up.

One thing that you might want to consider in the short term is moving to monthly VAT returns to improve your cashflow if you reckon you might be trading at a loss for a while.

kety7401

hi could any 1 give some advise pls i was self employed for 4months and my accountant did all my self assessment forms 4 me and told me i should get my tax rebate in a couple of weeks which as yet have not received.he also did my vat return but didnt tell me how long it would take but a few days after it had been sent i got a vat bill do i have to pay the vat bill b4 they release my rebate thanks

bris

You need to pay your vat bill when it's due,VAT returns and tax rebates have nothing to do with each other.

nhow

I was mistakenly charged VAT and handling fee for an order of ground coffee from the US. On 2 April I sent a reclaim form with all requisite documentation to HMRC in Coventry. On 11 June, as I had not received a reply, I filed a complaint. Still having no reply, on 22 June I filed a complaint with the Adjudicator. Now 28 June and still no reply from anyone at HMRC. I've sent both complaints by recorded delivery and they have been received. I hesitate to ring HMRC because I reallly don't want to spend any more money on this. It's really annoying. :mad:

martindow

nhow wrote: »

I was mistakenly charged VAT and handling fee for an order of ground coffee from the US. On 2 April I sent a reclaim form with all requisite documentation to HMRC in Coventry. On 11 June, as I had not received a reply, I filed a complaint. Still having no reply, on 22 June I filed a complaint with the Adjudicator. Now 28 June and still no reply from anyone at HMRC. I've sent both complaints by recorded delivery and they have been received. I hesitate to ring HMRC because I reallly don't want to spend any more money on this. It's really annoying. :mad:

I give suppliers to put the correct commodity codes on their invoices so that shipments get cleared correctly. Otherwise it is easy for the carrier to use an incorrect code. All my items are subject to VAT. An error means the duty charge can be higher than it should be so it is minor.

If it means avoiding an incorrect 20% charge it is well worth doing all you can to get it cleared correctly.

I imagine you will still have to pay the handling fee as it needs to be cleared whether VAT is payable or not.

Brassedoff

As per my same answer on another thread, I have had two clients get audited on their reclaims.

• It does not work that way now. In the instance of a VAT reclaim they now ask you for:
• An idea of if this will be your first or a regular rebate, if its regular they will de-register you.
• A full schedule of the VAT account for the period
• The type of VAT accounting system (software) you use.
• Copy of said invoices so they can check them.
• A full breakdown of what your business does and the type of customers/suppliers you purchase from.

If your Qtr ended in May, expect your letters requiring that information anytime soon.

As another poster said, the HMRC are really clamping down on rebates. It's a pity they are not as keen chasing all these water companies making billions, yet claiming a tax credit!

nhow

martindow wrote: »

I give suppliers to put the correct commodity codes on their invoices so that shipments get cleared correctly. Otherwise it is easy for the carrier to use an incorrect code. All my items are subject to VAT. An error means the duty charge can be higher than it should be so it is minor.

If it means avoiding an incorrect 20% charge it is well worth doing all you can to get it cleared correctly.

I imagine you will still have to pay the handling fee as it needs to be cleared whether VAT is payable or not.

I'm not a company...just an individual. Coffee is meant to be exempt from VAT. And HMRC has never made a mistake before now. The shipper didn't use a code. Just filled out the customs label on the outside of the package.

Once you get the VAT charge back you are able to request the handling fee back separately.