There’s a right way and a wrong way to correct VAT errors. But recent news from HMRC suggests an increasing number of businesses are getting it wrong and paying twice as much as they should be.
What’s going wrong?
Published 29.09.2010
It’s been a busy couple of years for the Taxman overhauling the time limits and penalty system. But do you know where you stand under these new rules if he makes a mistake processing your tax return?
Published 13.10.2010
Despite your best efforts mistakes in VAT returns are almost bound to happen from time to time, especially where a large number of transactions are involved. How should you correct them and what are
the consequences of doing so?
Published 05.02.2016
Your new bookkeeper has found a batch of sales invoices, issued a year ago soon after you registered, that didn’t include VAT. Can you now issue an extra invoice to correct the VAT error and how do
you handle the situation with HMRC?
Published 09.03.2021
The last year has seen radical changes to the rules on tax penalties and time limits. The latest came into force on April 1 2010. How do they affect you?
Published 05.05.2010
Honest mistakes in your VAT returns are bound to happen, even HMRC acknowledges this. What steps must you take to put them right and what other tax adjustments might you need to consider?
Published 31.03.2017
We’ve rounded-up a couple of the less well publicised aspects of the Budget. These relate to errors on tax returns, and ISAs. Miss out at your own risk!
Published 15.05.2009
If you haven’t already filed your 2005/6 personal tax return you’ve still got plenty of time to do so. However, to avoid rejection what are the top ten things you should be checking before you submit
it?
Published 01.09.2006
HMRC has published new guidance for businesses that used its VAT deferral scheme in 2020. The guidance relates to any additional VAT resulting from changes to your returns. What do you need to know?
Published 10.02.2021
If the VATman decides that an earlier written ruling is wrong, surely all you have to do is change the VAT treatment from the date he changes his mind? What should you do if he just tries to claim it
all back?
Published 15.02.2007