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  • 1,500+ Business Documents - VAT voluntary disclosure of error letter
    VAT voluntary disclosure of error letterIf you discover an error on a VAT return, you will need to correct it. In most cases this can be done simply by amending your next return, but where the error results in an increase in your VAT liability you should always send a letter of voluntary disclosure as this will protect you from penalties. If you find an error of £10,000 or lessIf you discover that you've made a mistake and misdeclared the amount of VAT due, you need to adjust it. If the errors on the return...
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  • 1,500+ Business Documents - VAT surcharge reasonable excuse letter
    Reasonable excuse letterHMRC has a wide range of penalties available to it. Many of these can be reduced while others can be removed completely where you have a reasonable excuse for the action which gave rise to the penalty. Having a reasonable excuseMost of the penalties imposed by HMRC will be cancelled in full if the taxpayer can establish a "reasonable excuse" defence. Unhelpfully though, there is no definition of "reasonable excuse". This argument now applies to: failure to notify liability; and default...
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  • 1,500+ Business Documents - VAT return checklist
    VAT return checklistMaking a mistake on your VAT return will result in under or overpaying VAT. This might mean losing out on VAT you can reclaim or underpaying which can result in financial penalties. Our VAT return checklist can help you reduce errors.What to put on your VAT returnThe principle of VAT is that a business adds its output tax to its sales. If it sells to another VAT-registered business, that business may claim relief for tax it has paid on its purchases and expenses (its input tax) against its...
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  • 1,500+ Business Documents - VAT - request for a written ruling
    VAT - request for a written rulingIf you have a VAT problem and can't find the answer in any of HMRC's published guidance, you can ask it for a written ruling. However, HMRC is often reluctant to provide one and it usually directs you to its guidance. To ensure you obtain the written advice you need, make your request in a format which forces HMRC to respond properly.hmrc guidance and Written rulings It's not easy to get a written ruling from HMRC on VAT matters. Its published guidance states: "You can write...
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  • 1,500+ Business Documents - Request for HMRC VAT internal review letter
    Request for HMRC VAT internal review letterHMRC operates a VAT internal review system to resolve disputes without the time or expenses involved with a formal appeal. If you wish to use this facility you should apply in writing to HMRC within 30 days of the assessment or decision with which you disagree. Asking for a reviewIf you disagree with HMRC over an assessment, you can ask for an internal review of the decision or you can appeal to the First-tier Tribunal (FTT). HMRC advises that in the first instance...
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  • 1,500+ Business Documents - VAT online filing checklist
    VAT online filing checklistIf you miss the deadline for submitting your return or paying your VAT, you may be liable to pay a surcharge. Our checklist will help you avoid this type of trouble.Online submissionSince 1 April 2012 all businesses with a few exceptions, essentially insolvent traders and those whose religious beliefs prevent them from using computers, must submit VAT returns online and pay any VAT due electronically.Note. Since 1 July 2014, businesses who are able to satisfy HMRC that it's not reasonably...
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  • 1,500+ Business Documents - VAT option to tax covering letter
    Option to tax letterRenting out land or buildings is usually exempt from VAT. This means you don't charge VAT to your tenants. The downside is that you might not be entitled to reclaim VAT on your property running expenses. By "opting to tax" the property VAT becomes payable on the rents you charge and the sale of the property. The advantage of opting to tax is that you will be allowed to claim VAT back on related purchases such as maintenance costs. VAT on propertyUnless you "opt to tax" a property (HMRC sometimes...
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  • 1,500+ Business Documents - VAT invoice checklist
    VAT invoice checklistVAT regulations require that all registered businesses issue invoices which contain various pieces of information and details.Valid VAT invoicesIf you are registered for VAT, valid invoices are important for two main reasons:you can be fined if you don't issue these to your customers  you cannot reclaim VAT on your purchases without one. The VAT regulations set out the minimum requirement for information to be included on invoices. There are exceptions and modifications to these rules,...
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  • 1,500+ Business Documents - VAT appeal letter
    VAT appeal letterIf you disagree with a VAT assessment or decision made by HMRC, you can, in most cases, appeal against it or ask for HMRC for a review to consider cancelling the appeal. An appeal should always be made in writing and usually within 30 days of the date of the assessment or decision.Resolving disagreementsFirst step - optional. If you disagree with HMRC over a VAT assessment, a penalty imposed or a ruling or decision you can ask for an Internal Review before making a formal appeal to the First-tier...
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  • 1,500+ Business Documents - Letter to HMRC - problems with online filing
    Letter to HMRC  - problems with online filingIf you've missed the deadline for submitting your VAT return online (or paying your VAT electronically), you might be let off the hook where you can show this was caused by IT problems.Explain whyIf you were unable to file your VAT return online because of problems with HMRC's VAT Online Service, you should write to HMRC explaining why. Enclose any evidence of the steps you took.   The sort of evidence that counts in your favour includes:o a copy of the printout...
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