I agree that you might be best to get someone to do this return as a one off (I'm sure plenty of people on here would offer to do it for you if you wanted to do that). There are all sorts of complications around when VAT can be reclaimed and when it can't.
Whoever does it though, they will need the HMRC login details, so you'll need to get them if you don't have them already.
-- Edited by RuthA on Thursday 25th of July 2013 06:59:56 PM
What software are you using for your business? Can't think of any that do not tell you exactly what to put in which box on the return (Sage, QB, VT all give you the form more or less as it appears on the HMRC site. Some software even allows you to file from within the software rather than going to the HMRC site to do it).
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
To give you a brief out-line the company's accountant has done a runner, I am familiar with accounts in the sense of processing invoice and chasing money and so forth but not with HMRC side of things.
I am just helping out while they interview people and get a bookkeeper in. In the meantime this needs to be done.
I have all the info but will be registering it directly to HMRC not through any other software.
A quick how to guide would be gratefully appreciated.
I suggest you carefully study "Getting Started with VAT" from this page of guidance from H M Revenue and Customs: http://www.hmrc.gov.uk/vat/index.htm , plus as much of the rest of the guidance as is relevant to your situation. There is quite a lot of material there to learn. Do not expect it to be obvious - it certainly wasn't to me.
In general, you should only claim back purchase (or "input") VAT on items for which you have a VAT receipt showing the VAT number of the seller. The receipt can be paper or electronic. You can probably get away with the odd lost receipt, if you can provide other evidence that all was in order, but don't tolerate a pattern of lost or allegedly lost receipts - you could end up in trouble.
There is no rule that says that you have to be an accountant or a bookkeeper to do the VAT. I am neither. However, your employers are actually asking a hell of a lot from you. The fact is that it is not easy to provide a quick how-to as it is a complex subject. If your company's situation is anything more complicated than just claiming back on purchases at 20% then I strongly recommend that you hire a bookkeeper for a limited time, in parallel with looking for someone to do the job permanently.
If the accountant has "done a runner," what are the implications? Are all the records in a mess? Will anybody be able to assemble the information on time? You should try to get a feel for the size of the problem ASAP. If it is manageable, with or without help, then go ahead and get it done. But if not, then try to get HMRC on your side, and to do that, you must act early. This is what HMRC's guidance says:
What to do if you know you can't make an accurate VAT Return
If you know that you will be unable to make an accurate return by the relevant due date, you should contact HMRC in writing as soon as possible. If they consider that you have a good reason, you may, exceptionally, be allowed to estimate your input tax and/or output tax.
If you are allowed to use estimated figures, and HMRC has received the return and any VAT you owe has cleared into HMRC's bank account by the due date, you will not be in default. If you have a Direct Debit Instruction in place, the box 5 value on your estimated return will be collected from your bank.
If you ask for approval to use estimated figures once the due date is passed, HMRC will consider your request but it will not affect any default that has already been recorded.
You must establish the correct amount of VAT. Any resulting adjustment must be included on the return for the next period. If HMRC agrees that this is not possible, you may include any revisions in the following period at the latest.
Don't want to seem alarmist, but we don't really have any idea of what's involved ... and if you don't either, then you shouldn't be having to deal with it (unless it's your business).
Don't want to seem alarmist, but we don't really have any idea of what's involved ... and if you don't either, then you shouldn't be having to deal with it (unless it's your business).
