How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TonyTax Your Own Question
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15976
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
Type Your Tax Question Here...
TonyTax is online now

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: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.

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 2 years ago.
Hi again.

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