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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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It is more a question about VAT. I am in the process of

Customer Question

It is more a question about VAT.
I am in the process of doing my books and have noticed that somehow I have managed to invoice a company and calculated the VAT on the invoice incorrectly. This was not noticed by the company. I have also realised when tallying the remittance and my invoices there is one that is unpaid. I am not sure the best way to proceed as I have already paid the VAT on these invoices, I am on the flat rate scheme.
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi.

You need to follow the guidance in VAT Notice 700/45 here. Paragraphs 1.1 to 4.12 set out the actions you should take to rectify and report the error. You should also chase for payment of the unpaid invoice if it was one you issued or pay it if it was one issued to you.

I hope this helps but let me know if you have any further questions.
Expert:  TonyTax replied 1 year ago.
Hi again.

It's been a few days since I answered your question. Is there anything you need further clarification on?

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