• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

VAT payment query

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #11
    Originally posted by Beefy198 View Post
    I did - I just covered myself by finding out so that I was ready if the agency tried to use VAT as an excuse to delay payment of an invoice.
    Sensible

    Rule No.1 in contracting: Make sure you never give the b******* an excuse not to pay.
    Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

    Comment


      #12
      well glad that my accountant (Brookson) have been right in this instance.......its mind boggling confusing all this HMRC lark. suppose it keeps accountants and tax advisers with a recession proof job

      Comment


        #13
        MyCo invoiced my agency last week, invoice dated 28th November so VAT added at 17.5%. Get my remittance advice today and they have paid me an amount equivalent to Net+15%.

        Rang them: their explanation is that the VAT rate in force when they settle the invoice is what they pay! I say, Er, no, that's not right - you need to pay me what's on the invoice. They go away and speak to a supervisor and come back to me and say "you need to issue a credit note to balance your accounts"

        Needless to say, an email has gone off to their accounts department. I know it's not my money anyway, but FFS!

        Comment


          #14
          Name and shame.

          Comment


            #15
            Originally posted by ghl View Post
            MyCo invoiced my agency last week, invoice dated 28th November so VAT added at 17.5%. Get my remittance advice today and they have paid me an amount equivalent to Net+15%.

            Rang them: their explanation is that the VAT rate in force when they settle the invoice is what they pay! I say, Er, no, that's not right - you need to pay me what's on the invoice. They go away and speak to a supervisor and come back to me and say "you need to issue a credit note to balance your accounts"

            Needless to say, an email has gone off to their accounts department. I know it's not my money anyway, but FFS!
            Tell them that if they refuse to pay the invoice in full within 14 days, you will refer this to your solicitors and a debt recovery company, and will charge them the cost of recovering the debt.
            If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

            Comment


              #16
              Originally posted by neilmcl View Post
              Name and shame.
              Hays.

              I'd be interested to know if this has happened elsewhere as I know it's not just me it's happened to.

              Comment


                #17
                Originally posted by ghl View Post
                Hays.

                I'd be interested to know if this has happened elsewhere as I know it's not just me it's happened to.
                Ask them what they would charge if the VAT rate went up to 18.5% after the invoice was raised showing the 15% rate. Would they be inclined to give you the extra 3.5%? (18.5% is a ficticious figure based on the leaked memo indicating that the rise was considered).
                If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

                Comment


                  #18
                  Originally posted by ghl View Post
                  Hays.

                  I'd be interested to know if this has happened elsewhere as I know it's not just me it's happened to.
                  Yes - me - about to start a discussion with them on Monday - they require the invoice to be for the Friday - so should flipping well pay it properly.

                  Was thinking of reporting them for VAT evasion personally

                  Comment


                    #19
                    Well for weekending 28th Nov, one agent paid me at 17.5% VAt and the other at 15% VAT.....mind boggling!

                    What do i need to do? just keep quiet or correct the one paying me 17.5% rate?

                    Comment


                      #20
                      Originally posted by diesel View Post
                      Well for weekending 28th Nov, one agent paid me at 17.5% VAt and the other at 15% VAT.....mind boggling!

                      What do i need to do? just keep quiet or correct the one paying me 17.5% rate?

                      Depends when the invoices were raised. If you raise the invoices yourself (ie you're not on some self-billing scheme) and they were dated before 1st December then they should have 17.5% VAT added to them.

                      If you're on a self-billing scheme then then one agency may have the tax point before 1st December and the other may have been after 1 Dec. Who knows? From my experience the agencies are only slightly more clued up than the average noob contractor.

                      Comment

                      Working...
                      X