Protected Buildings; pre 21 March 2012 listed building consents will get zero rating until 30 September 2015.
Penalty Regime – “Less contact bigger stick” – careless errors can be very costly.
- Need systems to identify errors.
- Need procedures to evidence “care” is taken to avoid penalties.
- All assessments will be liable to penalties of up to 100% of the tax.
The gloves are off and HMR&C are imposing penalties more strictly.
Late registrations now liable to penalties of up to 100% of the VAT due!
Time Limits – Now 4 years.
Adjustments – Errors of up to £10,000.00 can be adjusted on current return, but still liable to a penalty!
Any questions call 01 226 382 955 or email email@example.com