Annual Accounting Scheme-my interim payments are too high! How do I reduce them?

November 16, 2022
If you feel your interim payments to HMRC under the Annual Accounting Scheme are incorrect, you are 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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