VAT Reclaims via Interbank Transfer

[chrissa1]

I will be making a VAT Reclaim at the end of the month. How long does it take to register for an electronic payment instead of a cheque? Thanks

[Skyline D]

Don't really follow the question?

If you mean the requirement for traders turning over £100k plus to be registered for online VAT these days then a few days is the answer but you really should have done it before now. And the bank account details have to be registered 5 working days before you do the return or they won't work for that return.

If you mean you are below that turnover threshold and don't yet have to do online returns but want an electronic repayment this time instead of a cheque then the short answer is "I don't know". Can't see that it would take long but all you can do is phone them up and ask. Good luck though. Since the online returns went live the Enquiry Phone line is a complete nightmare to get through on. You can sit on hold for an absolute age before getting through if you are lucky and don't eventually just get cut off.

[chrissa1]

Thanks Skyline. It was the time to be taken to change from a cheque payment to an electronic payment. It'll have to wait for the next quarter then.
Thanks again.

[twix123]

Make sure that you apply for access to the Government Gateway well in advance, although it usually only takes about 5 to 7 working days to issue the user id and temporary password.

[Skyline D]

He or she doesn't need to be anywhere near the Government Gateway, they aren't doing an online return, just wanting a repayment to their bank account instead of by cheque.