Problems with postponed accounting statements in early 2021

Produced by Tolley
Problems with postponed accounting statements in early 2021

The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Problems with postponed accounting statements in early 2021
  • Actions required where postponed accounting statements cannot be accessed
  • Actions required where postponed accounting statements can be accessed
  • Quarterly return ending January 2021 and already submitted
  • Quarterly return ending February 2021
  • Quarterly return ending March 2021
  • Monthly return ending February 2021
  • Monthly return ending March 2021

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.

Actions required where postponed accounting sta

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