Andrew Park and Greg Mayne explain how you can navigate the VAT error disclosure system and explain the steps you can take to avoid HMRC penalties
VAT is often sardonically called the ‘Very Awkward Tax’. That’s not for nothing. It can be confusing and is often dealt with by busy taxpayers on borrowed time. Errors are easily made but it is how taxpayers, and their advisers, respond to those errors that makes the difference in rectifying them efficiently with HMRC and with minimal adverse consequences. In this article we give an overview of how and why VAT errors are commonly made, and how to go about correcting them.
Download the full article below: