Anyone submitted their VAT yet, due 31 December 2011?

[Fred Bloggs]

My VAT is due Dec 31st so I do a bank transfer between Christmas and New Year. For some reason last year the transaction bounced back so had to resubmit it again a few days later. I file the return electronically so it wasn't an issue. Myself, I'd never trust HMRC to take the money correctly. I always pay all payments to HMRC a bit early as part of my "fly under radar" approach.

[Wanderer]

So, I am due a return now 30th November and they won't take the money until approx 12th Jan 2012. Was good when interest rates were reasonable but not now, its just money in my account that isn't mine and I would prefer in some ways to be back doing my own bank transfer at the time I do my return.

Yeah, I wouldn't do DD for that reason. If you have a big director's loan or money in a deposit account then you might not have the right money in the right place on the right day and they could bounce it and get all pissy with you. I find that it's easy enough to setup a payment order for the correct day when you do your return or just pay it straight away and be done with it.

[SueEllen]

Really? I wouldnt trust such an inept organisation to have direct access to my money, ahem my companies money I mean.

I've not heard any complaints about the VAT department in terms of refunds and taking the wrong amount off people.

The complaints come from when things aren't clear and companies trying not to pay what they owe.

[TheFaQQer]

Really? I wouldnt trust such an inept organisation to have direct access to my money, ahem my companies money I mean.

I always pay it by DD.

The only time there was a problem was when I forgot that I paid by DD and paid it twice

[escapeUK]

Last year or so I have had my VAT taken by HMRC via DD.

Really? I wouldnt trust such an inept organisation to have direct access to my money, ahem my companies money I mean.

[Scrag Meister]

Last year or so I have had my VAT taken by HMRC via DD.

They leave it in there until something like 6 weeks after quarter end.

So, I am due a return now 30th November and they won't take the money until approx 12th Jan 2012. Was good when interest rates were reasonable but not now, its just money in my account that isn't mine and I would prefer in some ways to be back doing my own bank transfer at the time I do my return.

[SimonMac]

If you file online, I think you get an extra 7 days.Check it out though first

Correct.

Although I have been benched for all of the quarter so its a Nil from me

[malvolio]

No trouble. Have an invoice due to be paid on the 10th Jan, so wondering whether I'll be having a good Christmas or an EXCELLENT Christmas

Wrong, wrong, wrong. VAT is not your money, it should always be immediately available and you should not be dependent on potential income to be able to pay it off.

[ChrisPackit]

If you can't arrange that, you're in trouble.

No trouble. Have an invoice due to be paid on the 10th Jan, so wondering whether I'll be having a good Christmas or an EXCELLENT Christmas

[malvolio]

Reading between the lines, the real answer is to ensure the money is available in your company's current account from Dec 31st until it's paid.

If you can't arrange that, you're in trouble.

[tractor]

..

If VAT is due at 31st Dec, then, naturally, it needs to be with them prior to that - and not just because it's NY eve. Mine's due at same time so will be sending mid Dec, just to be sure.
I got a nasty letter (and a guidance document) sent through one year because my payment arrived 1 day late - there happened to be a bank hol which affected delivery. They are pretty hot on late payments.

If you file online, I think you get an extra 7 days.Check it out though first

[northernladuk]

If VAT is due at 31st Dec, then, naturally, it needs to be with them prior to that - and not just because it's NY eve. Mine's due at same time so will be sending mid Dec, just to be sure.
I got a nasty letter (and a guidance document) sent through one year because my payment arrived 1 day late - there happened to be a bank hol which affected delivery. They are pretty hot on late payments.

I think the OP has the direct debit set up so this isn't a problem.

[SteelyDan]

If VAT is due at 31st Dec, then, naturally, it needs to be with them prior to that - and not just because it's NY eve. Mine's due at same time so will be sending mid Dec, just to be sure.
I got a nasty letter (and a guidance document) sent through one year because my payment arrived 1 day late - there happened to be a bank hol which affected delivery. They are pretty hot on late payments.

[ChrisPackit]

Just wondering what date the HMRC stated it would collect it.

Usually 10 to 12 days after the month end.