When do you get VAT repayment?

TECH85

Hey all ,

Set up a LTD company in july.
Have an accountant and all paperwork / invoices sent in the start of september.
So for the july and august period VAT return im asking about.
I am getting work now and writing invoices , but during that period all invoices are outgoings , no incoming payments.
Money was spent on tools stock etc..
So when is the return normally sent to your bank account ?

Many thanks for any info ..

Stheno

TECH85 wrote: »

Hey all ,

Set up a LTD company in july.
Have an accountant and all paperwork / invoices sent in the start of september.
So for the july and august period VAT return im asking about.
I am getting work now and writing invoices , but during that period all invoices are outgoings , no incoming payments.
Money was spent on tools stock etc..
So when is the return normally sent to your bank account ?

Many thanks for any info ..

Are you expecting an automatic refund of vat you've paid?

Peatys

Can you not just account for it in the next set of figures?

The_Chap

It should be with you before the end of the month providing they have your bank details on ROS, any period I’ve been due a refund it was around 27th

TECH85

Thanks for the replys ..
Ya its just the accountant had said i should get the payment into my account around the end of the month , so i was just asking is there a set date that this happens !?
Should be within the next few days so.

Thanks again..

Sleeper12

TECH85 wrote:

Set up a LTD company in july. Have an accountant and all paperwork / invoices sent in the start of september. So for the july and august period VAT return im asking about. I am getting work now and writing invoices , but during that period all invoices are outgoings , no incoming payments. Money was spent on tools stock etc.. So when is the return normally sent to your bank account ?

The first refund can take a few weeks all going well. It may look unusual to put in expenses but no invoice for incoming service. Anytime unusual looking can cause delays.
I file every 6 months. If I have an extra large refund (I bought a new van in January) I try offset it against income tax later in the year. The last unusually large refund I had took months. Lots of back and forth.

Ghekko

Just for future reference, if you are behind with a return (rtd for example) they tend to withhold vat repayment until it's completed. We got caught out with that. Once the return was filed the repayment was in very quickly.