New VAT Campaign Launched

HMRC is taking steps to crack down on those who are late with VAT returns or payments. If you’re struggling with a return or to pay your VAT, what steps should you take in order to avoid any unnecessary trouble from HMRC?

On January this year HMRC announced its intention to get tough with businesses that miss VAT deadlines. However, he’s allowing some breathing space by giving them until the end of February to bring their returns and payments up to date.

The incentive to co-operate is that HMRC which will result in more lenient penalties. But the implication for businesses will be hard if it catches up with them first.

There are essentially two groups of businesses which should aim to take advantage of this

  • Those which have overdue VAT returns or payments
  • Businesses which have not registered when they should have.

If you’ve had VAT problems, but are now up to date with both paperwork and payments then you don’t have to worry. HMRC’s campaign is not aimed at revisiting past troubles.

But it is better if you get the right advice for what to do with VAT if you have any problems. Contact KVS Accountants for any tax related advice. KVS has helped many businesses in the Fulham and Putney area on tax matters

Follow the below link for more details

http://kvsaccountants.co.uk/VAT.html

 

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