Agency Paid Me Twice

[Syd]

.
Checking the agency's web portal I notice my due payment is incorrect because the VAT is not there (so it's 20% less than it should be).

I notify the agency that the wrong value shows up on their system.

Agency asks to provide a VAT certificate and I adhere.

Agency notifies me that the correct payment has been made.

I check my company's bank account I notice one payment without VAT (x-20%) and one including the VAT.

Christmas came early this year

[cojak]

It’s really very simple.

Inform the agency and pay it back.

Anything else is criminal fraud that the agency will quickly discover and demand that you pay back anyway.

[jamesbrown]

Christmas came early this year

Perhaps, but not for you, because you now have to feck around paying them back.

And you do have to pay them back.

[northernladuk]

Well done. Now pay it back.

[vwdan]

The law is simple. It's not your money, you know it's not your money, you have no reason to believe it's your money and so anything other than returning it would be a criminal offence

[Syd]

How do I categorise the transaction(s) in accounting if I'm about to send it back?

Obviously I don't want to pay corporation tax on that amount.

[jamesbrown]

How do I categorise the transaction(s) in accounting if I'm about to send it back?

Obviously I don't want to pay corporation tax on that amount.

The accounting is very simple, it's a sales refund (without VAT, since it wasn't included originally).

[GhostofTarbera]

Ask to see their vat certificate 1st

[Lance]

Agency Paid Me Twice

I suspect that you’ll get an email asking you to return the overpayment. When you get that, comply.

I’m not so sure that not volunteering to refund it is fraud but I’m not a lawyer. I’d be inclined to ‘not notice’ that it’s there and see what happens. I very much doubt that the agency won’t notice though so you’ll hear from them this week.

[SuperLooper]

I’d be inclined to ‘not notice’ that it’s there and see what happens.

Why?