Commentary

V5.159A Payment of underdeclarations of VAT

Part V5 Compliance, enforcement and appeals

V5.159A Payment of underdeclarations of VAT

V5.159A Payment of underdeclarations of VAT

VAT underdeclarations not exceeding a specified amount

Where such an underdeclaration is corrected by means of an adjustment to the VAT account as described in V5.159 above, it follows that any adjustment to the amount due to or from HMRC will be reflected in the corrected figures in the VAT return for the period in which the disclosure is made, and consequently in the related payment to, or repayment from, HMRC.

While a person could use the voluntary disclosure method (rather than correcting his VAT Account) to inform HMRC of net errors not exceeding £50,0001,

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