Commentary

V7.283 Errors and adjustments—introduction

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.283 Errors and adjustments—introduction

Part V7 Tax planning | Commentary

Dealing with errors and interest charged on errors

V7.283 Errors and adjustments—introduction

It is inevitable that mistakes will be made by many businesses in calculating their VAT liabilities. These mistakes will sometimes be identified before the return has been submitted; this is more likely where strong internal controls and an effective system for checking the figures exist. In such cases, the procedure for dealing with errors is not an issue – the return can be amended before it is submitted to HMRC.

However, there will also be occasions when mistakes are identified only after the return has been submitted, resulting

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