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Post Info TOPIC: Claiming Bad Debt Relief on VAT Return
Apollo


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Claiming Bad Debt Relief on VAT Return
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Hi Everyone!

When claiming bd relief after 6 months on a VAT return, I know that the VAT element is added to input tax paid in the current qtr; but is the original output not recovered ignored for purposes of bad debt relief?
Great if someone could clarify.
Thanks

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Shamus


Forum Moderator & Expert

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Posts: 11981
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Hi,

What is your name by the way? I feel a bit silly keep referencing Greek Gods in my replies.

Yes, the original Output that has not been recovered is ignored as to make adjustments to both input and output VAT would double the recoverable sum (hope I understood the question correctly).

The HMRC pages that you need to reference for this are :

http://www.hmrc.gov.uk/vat/managing/reclaiming/bad-debts.htm

http://www.hmrc.gov.uk/vat/managing/returns-accounts/completing-returns.htm

http://www.hmrc.gov.uk/vat/managing/problems/corrections/correct-mistakes.htm

cheers,

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.
Neil


Senior Member

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Posts: 188
Date:
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Looks like I'll have to change back to my mortal name then.

Cheers

Dionysus



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Shamus


Forum Moderator & Expert

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Posts: 11981
Date:
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Hi Dionysus,

Greek God of Fertility and Wine.... Now there's a mix just asking for trouble!

So many messages today I've had difficulty deciding which to answer first... So I've reverted to just answering those that nobody else has.

Keep letting things like real work (thankful at the moment to have some) get in the way of answering my fan mail.

Hope you days going well.

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.
Neil


Senior Member

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Posts: 188
Date:
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Hi Shaun

Today has been tough due to the extended nature of yesterday. I'm sure tomorrow will be easier.

I finally found something about Sage I struggled with so now I feel like I'm getting value for money. I downloaded the ICB past paper for Level II to get an idea what's expected. As previously mentioned, there appears to be no Level III past paper.

And finally, I've ordered the Self Assessment bible from HMRC. Let's see how efficient or inefficient  they are in dealing with my little request.

My ICB account tells me I'll have to wait until 13/03/2010 20:47:35 for my result. I just hope I'm not busy that evening.

Cheers

Neil




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