We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Businesses warned over late VAT returns
HMRC_representative
Posts: 14 Organisation Representative
in Cutting tax
Businesses warned over late VAT returns
If your business is registered for VAT but not up to date with VAT returns, you’re being given the chance to come forward now under the HM Revenue and Customs (HMRC) VAT Outstanding Returns campaign.
Businesses are being given a chance to get up to date with their returns and pay the tax they owe by 28 Feb 2013.
Who does it apply to?
The VAT Outstanding Return campaign is aimed at businesses that have one or more VAT return outstanding, and who have been told to submit their returns but have not done so.
Some businesses have received an assessment of VAT for these periods. Some will have paid the amounts assessed but still not made returns to HMRC.
What does the campaign involve?
As many as 40,000 businesses that have failed to submit VAT returns will be targeted by HMRC this month with warnings that their tax affairs will be closely scrutinised. By using this campaign to come forward voluntarily, businesses might receive better terms, as any penalty may be lower than if HMRC comes to them first.
What if your business no longer needs to submit VAT returns?
You may not have sent in your VAT returns because you believe you no longer have to. This might be because of a change in circumstances, such as your business ceasing to trade. Or you may have stopped making taxable supplies, or your VAT taxable turnover no longer exceeds the VAT threshold (currently £75,000).
If your business circumstances change you must tell HMRC.
How do you take part in the campaign?
To take part in the campaign you simply need to make your VAT returns to HMRC immediately and pay what you owe, or tell HMRC if you have stopped trading or changed.
More than 600,000 businesses have to put in VAT returns each month and most do so on time.
For further help on the campaign, businesses can visit HMRC’s website: https://www.hmrc.gov.uk/campaigns/vator.htm or call the VAT Helpline 0845 010 9000.
Your feedback
We’re keen to have your questions and feedback on the campaign. We will read responses posted in this thread, but we cannot promise to reply to every post.
Kam
HMRC Press Office
If your business is registered for VAT but not up to date with VAT returns, you’re being given the chance to come forward now under the HM Revenue and Customs (HMRC) VAT Outstanding Returns campaign.
Businesses are being given a chance to get up to date with their returns and pay the tax they owe by 28 Feb 2013.
Who does it apply to?
The VAT Outstanding Return campaign is aimed at businesses that have one or more VAT return outstanding, and who have been told to submit their returns but have not done so.
Some businesses have received an assessment of VAT for these periods. Some will have paid the amounts assessed but still not made returns to HMRC.
What does the campaign involve?
As many as 40,000 businesses that have failed to submit VAT returns will be targeted by HMRC this month with warnings that their tax affairs will be closely scrutinised. By using this campaign to come forward voluntarily, businesses might receive better terms, as any penalty may be lower than if HMRC comes to them first.
What if your business no longer needs to submit VAT returns?
You may not have sent in your VAT returns because you believe you no longer have to. This might be because of a change in circumstances, such as your business ceasing to trade. Or you may have stopped making taxable supplies, or your VAT taxable turnover no longer exceeds the VAT threshold (currently £75,000).
If your business circumstances change you must tell HMRC.
How do you take part in the campaign?
To take part in the campaign you simply need to make your VAT returns to HMRC immediately and pay what you owe, or tell HMRC if you have stopped trading or changed.
More than 600,000 businesses have to put in VAT returns each month and most do so on time.
For further help on the campaign, businesses can visit HMRC’s website: https://www.hmrc.gov.uk/campaigns/vator.htm or call the VAT Helpline 0845 010 9000.
Your feedback
We’re keen to have your questions and feedback on the campaign. We will read responses posted in this thread, but we cannot promise to reply to every post.
Kam
HMRC Press Office
Follow us on twitter @HMRCgovuk
“Official Company Representative
I am the official representative of HMRC. MSE has given permission for me to post in response to queries, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
“Official Company Representative
I am the official representative of HMRC. MSE has given permission for me to post in response to queries, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards