VAT Thresholds and claiming back from HMRC

admarlow_ | 12:39 Fri 23rd Sep 2011 | Business & Finance

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What happens if you register for VAT as you think you will go over the threshold, and you start paying VAT. Then you don't actually go over the threshold and you deregister.

Can you claim back the VAT you paid HMRC in error?

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BrainsTracy

No, it was not paid in error, you collected it. Businesses do not pay VAT they merely collect it from the end customer and give it to the revenue. If it was to be repaid, logically you'd have to go and give it back to all the customers you'd served in the interim, then you'd have to pay the VAT you'd offset on the return.

You can dergister but that is quite a tricky process and it does not undo any VAT payment/reclaim that occurred whilst registered.

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