Commentary

RCB/38/08 VAT—default interest and net errors of less than £2000

Part V16 Forms and other HMRC material

RCB/38/08 VAT—default interest and net errors of less than £2000

RCB/38/08 VAT—default interest and net errors of less than £2000

Revenue & Customs Brief, Issue 38. 1 August 2008

The current practice, described in paragraph 2.4 of Notice 700/43 “Default Interest” (Part V8) and note 4 on form VAT 652, of not charging default interest on net errors of £2000 or less separately notified to HMRC, will continue until the end of August 2008. However, following the decision in Wilkinson v Commissioners of Inland Revenue, this practice is not considered lawful and will be withdrawn with effect from 1 September 2008. This means therefore that all error notifications (previously known as

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