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Post Info TOPIC: Minus 10p error on VAT reclaimed last return - how best to deal with?
Ridesy


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Minus 10p error on VAT reclaimed last return - how best to deal with?
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Hi All,

Need some simple advice on how best to deal with a typo when entering online last months VAT return?

Basically mistyped online the Box 4 figure for VAT reclaimed by all of -10p, so VAT repayment (as we are an importing/exporting company and always on repayments) has now arrived and of course is 10p lower than the VAT due back according to accounts software.

Question really is how anyone would deal with this?

Assume it is not worth contact HMRC, but would you just make notes on VAT return copy and then add the 10p to box 4 next month to end up all square, or is there a better/"best practice" I should follow in case ever inspected by VATman?

Thanks

Jeremy



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Shamus


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Hi Jeremy,

just adjust the next return by the eroneous 10p in order to resolve everything.

An inspector would not make anything of something like that. Minor errors are very common (mistyping, transposition, etc) and often don't get picked up until the period end and resolved without issue then.

HTH,

Shaun.


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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.
Ridesy


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Posts: 79
Date:
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Thanks Shamus,

Did think this would be too small to worry about.

Will make a note on this months return to explain error and same on next months when adding the extra 10p.

Jeremy



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