I have a client who has over paid sales output tax by approx £9K on the 2010 returns
Sales net of VAT are approx £46K
Am I right in (assuming!) that I can correct this error on the next VAT return without having to complete the 652 VAT form and writing to HMRC VAT Office
Any help and advise would be greatly appreciated
Many thanks
Replies (2)
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The timing may be an issue
The ability to correct returns over the prior four years came in to full effect on 30 Apr-10. if your errors are after this date you do not fall into the transitional rules, if the errors are before this date then have a look at
http://www.hmrc.gov.uk/vat/managing/problems/corrections/correct-mistakes.htm
Use of VAT 652
Having settled the timing issue, the level of the error means that you have to use form VAT 652, if (since it is between £10,000 and £50,000) the value of the errors does not exceed 1% of the Box 6 total. A covering letter is also advisable, to explain the reason for the error.