Vat Amnesty

[RichL]

VAT Amnesty

HMRC has launched a new amnesty campaign targeting businesses trading above the VAT threshold without being registered.

The VAT crackdown is set to hit later on in the summer, giving those who are unregistered for VAT to get their affairs in order.

The initiative is expected to run along the same lines as previous campaigns where HMRC encouraged non-payers to disclose what they owe before taking action against those who failed to come forward.

Campaigns in the past have targeted offshore investments, medical professionals and people working in the plumbing industry. These campaigns have been aimed at reducing the tax gap by focusing on areas where a significant underpayment has been identified.

Mike Wells, HMRC director of Risk and Intelligence, said the VAT initiative would act as a model for future campaigns: “We look forward to being even more open about the compliance activity HMRC is undertaking to ensure we reduce the tax gap and help customers pay what they owe.”

Current turnover limit is £73,000pa on a rolling 12 month basis ie. NOT what your last set of accounts showed.

[MrHappy]

sounds like a plea for more of your taxes cuase the goverment has pee'd it up the wall in this manner

http://www.dailymail.co.uk/news/article-1392840/The-scandal-British-aid-spent-giving-Pakistanis-online-banking.html

[reidy]

sounds like a plea for more of your taxes cuase the goverment has pee'd it up the wall in this manner

http://www.dailymail.co.uk/news/article-1392840/The-scandal-British-aid-spent-giving-Pakistanis-online-banking.html

F*cking LOL