V3.505 Estimation of output tax

V3.505 Estimation of output tax

Regulations1 made under VATA 1994 Sch 11 para 2(10)(a) provide that HMRC may allow a person to estimate a part of his output tax for any period in cases where they are satisfied that he is unable to account for the exact amount of output tax chargeable in that period. A person must clearly seek permission to estimate tax under this provision (and set out when the correction is to be made), and obtain such permission, before accounting for output tax on the basis of an estimate. He will clearly sign a false declaration on

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