ANNUAL ACCOUNTING SCHEME - MY INTERIM PAYMENTS ARE TOO HIGH! HOW DO I REDUCE THEM?

If you feel your interim payments to HMRC under the Annual Accounting Scheme are incorrect, you can request these to be re-assessed by HMRC by writing to the address below:

BT VAT

HM Revenue and Customs

BX9 1WR

We have provided some suggested wording below:

Dear Sir/Madame

I am writing to you in regard to the business below and it's registration under the Annual Accounting Scheme:

Business Name - xxxxxxx

VAT Number - xxxxxxx

Register Address - xxxxxxx

Our taxable turnover has reduced so the current interim payments to HMRC are overstated. Please can you reassess these payments based on revised revenue below:

New Estimated Taxable Turnover for the next 12 months - xxxxxxx

Your faithfully

xxxTax Payer Name xxxx

xxxTax Payer Postion in Business xxxx

Note - your interim payments to HMRC cannot be reduced by less than 10%.

Alternatively, you can write to HMRC at the address below to ask if you can leave the VAT Annual Accounting Scheme to join another scheme:

BT VAT

HM Revenue and Customs

BX9 1WR

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Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. Spondoo is a trading name for Accounting SQL Limited, authorised & license accounting firm under the Institute of Financial Accountants.

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