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More VAT Updates

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Category: August 2011

VAT Updates

If you receive a letter from HMRC headed “VAT Initiative Campaign” please contact us IMMEDIATELY. This is serious. The implication is that HMRC holds information that leads them to believe you have exceeded the VAT registration threshold but have failed to register. So far we have seen one of these letters sent to a sole trader who has moved in to a limited company. The letter says if you are sure your position is correct, do nothing, but we are waiting to see the follow-up. The letter also refers to other taxes, so any follow up will involve a full disclosure requirement. If you think you may have exceeded registration level, please check with us what you should do – better to own up before being found out.

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