Excessive repayment claim

[wkkk]

Hello Everyone.

Someone offer me help to buy equipment for the business.
He said he will pay in a couple of weeks. I thought the deal was solid and since it was end of the month to file a vat return, I included that amount as well.

Now he change his mind and left me with excessive vat claim on my return.

How or what should I do to rectify ?
Thank you

 

[lesvatadvice]

if the amount of VAT error is less than £10,000 then you can wait until the next Return to correct it.
If the error exceed £10,000, or you want to sort it more quickly, you need a for VAT 652 from the HMRC website (or PM me). This enables you to provide some basic explanation of the circumstances. You will also help to minimise/avoid penalties (although I suspect you would probably not be penalised given the circumstances you describe).

 

[wkkk]

Thank you !

 

[Bob]

How much was the VAT overclaimed and did you have a valid VAT invoice when you entered it in your records?