Be prompt with your VAT returns HM Reven

Be prompt with your VAT returns

HM Revenue & Customs is clamping down on late VAT returns. About 50,000 traders fail to make their returns on time. Such traders are liable for interest and surcharges in addition to the tax due.
In this new clampdown, late-paying traders will be assessed for an amount of VAT while the return is outstanding. HM Revenue & Customs intend to more closely monitor such traders.
If you are having problems paying your VAT, there is a scheme called Time To Pay which helps businesses through a difficult period without risking tax penalties. We can help if you believe you need this support. Please note that a Time To Pay request must be made before the tax is due.
You could be regarded as a late payer if you have ceased trading or have changed some detail of your business and not told HM Revenue & Customs. It could be worth letting us check to see that you have provided all the necessary details to HM Revenue & Customs.

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