January 2019 Questions and Answers

2019-09-01T23:09:11+01:00January 24th, 2019|Categories: Questions & Answers|Tags: , , , , |

Q. What should I do about an error I accidently made on my latest VAT return? A. You can adjust your current VAT account to correct errors on past returns if the error: - was below the reporting threshold (in broad terms this is less than £10,000, or up to 1% of your box 6 figure (up to a maximum of £50,000); - was not deliberate; and - relates to an accounting period that ended less than 4 years ago. When you submit your next return, add the net value to box 1 for tax due to HMRC, or to [...]