Problems on late VAT returns
Businesses that have failed to submit VAT returns will be targeted by HMRC this month with warnings that their overall tax affairs will be closely scrutinised.
The campaign is aimed at businesses that have one or more VAT returns outstanding, and have already been told to submit their returns but have failed to do so.
These businesses are being given an opportunity to get up to date and pay the tax they owe by 28 February. After that date HMRC will take a much closer look at their tax affairs. By coming forward voluntarily they may receive better terms, as any penalty they pay could well be lower than if HMRC comes to them first.
Further details are available from HMRC.
Date: 11th February, 2013
Articles from this Author
1st November, 2018
Budget 2018 - Changes for businesses
22nd October, 2018
Making the most out of your home? Rent a room relief
3rd May, 2018
Tax changes for non-resident corporate landlords
4th April, 2018
EMI options - a current risk
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
‘No matter the size they all face common issues and they all need a trusted advisor to help them achieve their ambi… twitter.com/i/web/status/1…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole