Articles

Not registered for VAT

Details

Parent Category: News

Category: Tax News

Not registered for VAT – this affects you - VAT registration amnesty ends

HMRC has announced that following the initiative to persuade businesses that should have registered for VAT to do so by 31^st December 2011 and avoid penalties, they will now start investigating non-registered businesses. Last time this happened was about 13 years ago and the main targets were construction, catering and retail businesses that had regularly placed adverts in Yellow Pages and Thompsons Directories for several years but had never registered for VAT. When you are so close to the day-to-day running of your business, it isn’t always easy to track the rolling 12 months turnover level to see if VAT registration is necessary. If you need help monitoring this, please let us know and we can help you set up a checking system. Did you receive a letter from HMRC last year, suggesting you should be registered? If so, you will be checked if you haven’t registered.