20% SALES TAX received but NOT requested

[pr1]

Really not worth messing with the VAT man, i missed my payment deadline by one day last quarter (slipped my mind), only a day late and the first time this has happened in 5 years of contracting....

... a few days letter a stern letter from the VAT mob lands on my doorstep telling me I've been a naughty boy and if It happens again within the next 12 months I'll be hit with a 2% penalty (which will go up on each transgression), I made sure to pay this quarter as soon as my accountant calculated the amount due!

direct debit is your friend!

[SlipTheJab]

direct debit is your friend!

Yeah I don't trust them enough to give them access

[Lost It]

Really not worth messing with the VAT man, i missed my payment deadline by one day last quarter (slipped my mind), only a day late and the first time this has happened in 5 years of contracting....

... a few days letter a stern letter from the VAT mob lands on my doorstep telling me I've been a naughty boy and if It happens again within the next 12 months I'll be hit with a 2% penalty (which will go up on each transgression), I made sure to pay this quarter as soon as my accountant calculated the amount due!

2% of that bill or 2% of the VAT within that tax period?

This is one reason I moved accountants. They sent a tax invoice to my wife's email address. Not mine. Wifey checks her email if and when she does an online shop... Could have been a very expensive mistake for me.

[ladymuck]

2% of that bill or 2% of the VAT within that tax period?

This is one reason I moved accountants. They sent a tax invoice to my wife's email address. Not mine. Wifey checks her email if and when she does an online shop... Could have been a very expensive mistake for me.

My goodness, you don't know your VAT liability or when it's due? I do all my own accounts to trial balance. I only have an accountant to do an annual sanity check, calculate CT and do the HMRC/CoHo returns. I would never hand over so much control to an accountant (no offense intended to accountants, btw)

[northernladuk]

My goodness, you don't know your VAT liability or when it's due? I do all my own accounts to trial balance. I only have an accountant to do an annual sanity check, calculate CT and do the HMRC/CoHo returns. I would never hand over so much control to an accountant (no offense intended to accountants, btw)

Mr Upton says none taken.

[SlipTheJab]

2% of that bill or 2% of the VAT within that tax period?

This is one reason I moved accountants. They sent a tax invoice to my wife's email address. Not mine. Wifey checks her email if and when she does an online shop... Could have been a very expensive mistake for me.

It would be 2% on top of whats owed that quarter. Not my accountants fault, who is very good. My bad for not doing it on time.

[zimmerman90]

Case closed.

Hi, ok thanks for the advice, will contact the agency and advise them. CASE CLOSED.

[TNA57]

Really not worth messing with the VAT man, i missed my payment deadline by one day last quarter (slipped my mind), only a day late and the first time this has happened in 5 years of contracting....

... a few days letter a stern letter from the VAT mob lands on my doorstep telling me I've been a naughty boy and if It happens again within the next 12 months I'll be hit with a 2% penalty (which will go up on each transgression), I made sure to pay this quarter as soon as my accountant calculated the amount due!

Thanks for sharing this. My VAT is due 1/1 next year and i just had a flying thought that i would pay on the 3rd or 5th.oooops! Guess i better pay pronto before i get same letter!

[ASB]

Thanks for sharing this. My VAT is due 1/1 next year and i just had a flying thought that i would pay on the 3rd or 5th.oooops! Guess i better pay pronto before i get same letter!

Assuming you pay debit card over the phone you should be ok until the 4th. 3rd if direct transfer. 10th is you set up a direct debit in time (then cancel it if so incline). There is a calculator for various payment methods on gov.uk.