The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the types of situations where HMRC may issue an assessment to a VAT registered business. This note predominately deals with assessments issued on or after 1 April 2010. It should be read in conjunction with the following guidance notes:
VAT registered businesses have a legal obligation to submit their VAT returns and payments within specified time limits (due date). If the returns are not submitted or not received within the time limits or the returns submitted contain errors, HMRC has the power to raise an assessment, to the best of their judgement, to the business in order to collect the VAT due. Please see the Best judgement guidance note for more information.
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