I didn't work for the whole of January and started a new contract in February where I have been up until present.
I only realised last week that my agency haven't been paying me the VAT on top of my gross rate. I've raised this with them and they've sent the refund out only to find they've overpaid by about £4000. I haven't raised this with the agency and they haven't made contact with me about it yet either.
My agency issue me with self-billing invoices which I forward onto my accountant with my expenses. They have sent me an invoice for the VAT refund (with the same incorrect figure that they've actually paid me) which I should(?) forward to my agency. I'm going to be leaving my current client and agency at the end of May for a new contract hopefully (interview this week).
I've seen there's another thread about overpayments and a lot of the advice is "just stick in a high interest savings account" - yeah but until when exactly?? What if the agency don't want to know?? Thing is that £4k would plug a nice gap in my co. bank account for dividends/directors loans I've taken during and around January so umm... it would be nice to hang onto that... err indefinitely, so how would I acount for it?
VAT is due end of May so I was thinking of knocking up an invoice for the true unpaid VAT and sending that to the accountant and keeping schtum about the £4k.
My agency is one of the big boys so I don't have a bad conscience on hanging onto this cash. They've been twats to me anyway
I only realised last week that my agency haven't been paying me the VAT on top of my gross rate. I've raised this with them and they've sent the refund out only to find they've overpaid by about £4000. I haven't raised this with the agency and they haven't made contact with me about it yet either.
My agency issue me with self-billing invoices which I forward onto my accountant with my expenses. They have sent me an invoice for the VAT refund (with the same incorrect figure that they've actually paid me) which I should(?) forward to my agency. I'm going to be leaving my current client and agency at the end of May for a new contract hopefully (interview this week).
I've seen there's another thread about overpayments and a lot of the advice is "just stick in a high interest savings account" - yeah but until when exactly?? What if the agency don't want to know?? Thing is that £4k would plug a nice gap in my co. bank account for dividends/directors loans I've taken during and around January so umm... it would be nice to hang onto that... err indefinitely, so how would I acount for it?
VAT is due end of May so I was thinking of knocking up an invoice for the true unpaid VAT and sending that to the accountant and keeping schtum about the £4k.
My agency is one of the big boys so I don't have a bad conscience on hanging onto this cash. They've been twats to me anyway
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