Morning,
Cant find a definitive answer on this, so I'm throwing it out there.
Have received a VAT assessment covering April 2012, showing an amount due of £90k.
The actual April return was submitted online the day after the date on the assessment and is a repayment (all our VAT returns are repayments).
I'm looking at what to do with the assessed amount and my first thought was "well our actual return is is and its a repayment, so i will file this in the bin".
However, on looking further it looks as though assessments still need to be paid, no where does it say that the assessment is superseded and on the HMRC website it actuallt states that assessments must be paid and cannot be offset against any repayments due.
Confused, does this still need paid despite actual return being submitted? Surely not?
As always, thanks in advance.
Replies (2)
Please login or register to join the discussion.
Assessment should be cancelled
Where a [missing VAT return] assessment is issued it stands payable until such time as a return (for the same period) is rendered.
In my experience the assessment is automatically replaced by the return.
For peace of mind, and in view of the large amount of money involved, HMRC Debt Management Unit (DMU) should be contacted to confirm that the assessment has been cancelled and replaced by the return on HMRC's DMU computer system screen.