Hi there
I have checked my VAT Account online, and I'm just wondering if our VAT repayment has been paid.
Under description it says 'Repayment - Bank Giro Authorised'. Does this mean it has actually been paid and I can expect it in our bank shortly, or are checks still going through?
This is our first VAT return so I'm not sure what they mean - if it has been Authorised, should it be in my account by now?
Many thanks in advance!
Replies (4)
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Repayment Return
The wording means that HMRC have accepted, in principle, the Return. Your money is on its way. However, HMRC reserve the right to check the Return at a later date, so you cannot take repayment as their agreement that the figures are correct.
But ...
if you have not received the money 2 weeks after the 'Bank Giro Authorised' message, then do contact HMRC to chase.
You can use this link: https://online.hmrc.gov.uk/shortforms/form/VATReg_Agent?dept-name=&sub-d...