Submitted on Friday 16th December 2011
Published on Thursday 5th January 2012
Current status: Closed
Closed: Thursday 5th April 2012
Signatures: 1
Why do we have to "advance" HMRC their VAT money?
Customers don't pay you within 30 days in the current economic climate, which is when your VAT Quarter has to be paid by. Therefore, why do you have to advance HMR&C the VAT money before it has been collected? This has a major impact of companies who are either manpower heavy (no VAT to reclaim) or can't go on the cash accounting scheme due to their turnover.
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