If you’ve been late in filing your VAT return on one or more occasions, HMRC may soon be breathing down your neck. The Revenue has recently pledged to crackdown on ‘serial’ offenders by delving even further into their tax affairs.
HMRC has given businesses until 28 Feb to get up to date with their VAT affairs and pay over any outstanding tax.
After this date, HMRC will impose harsher penalties and terms on businesses found to be behind.
The message is clear – approach the VAT man before he (or of course, she) approaches you!