VAT overpayment query

S

Stapeler

Registered User
Messages
75
Hi.
I overcharged vat (21% instead of 13.5%) and overpaid the Collector General for the May/June period. I've rectified this with the client however I'm wondering how do I account for this on the Vat3 return for the current period. Should I outline my vat on sales/purchases as normal and make a zero payment.
Thank you in advance.
 

You could

1. File amended vat 3 with correct figures for may/june

or

2. If enough sales vat, reduce sales vat amount by the error amount

what you put on vat 3 sales less purchases should give you a payment or refund
 
How did you rectify this with the client

Issue a credit note to erase the first invoice and then issue an invoice with the correct VAT?

if that is the case the error will wash through. If that is not the case then my suggestion is to make it the case. How much in cash terms was the error?
 
Thank you for your responses.
The overcharge amount is around €370 and leaves me in credit with CG for the next billing period.

I have issued corrected invoices and a credit note to the client.
 
Treat the previous period as correct and put the adjustment in the next available period and you'll be ok
 
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