The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
This guidance note examines a number of issues associated with postponed accounting statements that have impacted businesses in early 2021. For guidance on postponed accounting generally, see the Imports ― postponed accounting for import VAT guidance note.
HMRC has reported that there have been ongoing problems with the generation of postponed accounting statements in early 2021. This includes problems accessing the statements and problems with the contents of the January and February 2021 statements for some taxpayers.
Guidance has been issued by HMRC on how taxpayers affected by these issues should proceed. What to do depends on whether the taxpayer is able to access its statements or not. If this guidance is followed, HMRC should not issue a penalty for an error in a person’s VAT return.
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