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VAT Refunds

Circumstances may arise where changes in interpretation of VAT law may lead to VAT previously charged to clients becoming recoverable from HMRC. In such circumstances Charles Stanley may be able to file “protective claims” for VAT overcharged to those clients who should have qualified for exemption over the last four years which is the maximum period allowed.

If HMRC accept any such claim, we will pass on to you the full amount refunded. Please note that this amount may be lower than VAT originally charged on the services provided. This is because, under Section 80(2A) of VATA 94 we are required to calculate the amount of VAT that Charles Stanley originally recovered relating to these supplies, and to deduct that from the claim.

The VAT Regulations require us to pass on the full amount of the refund received, and we can confirm that we will do this as quickly as possible after a claim is approved.