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Late VAT Registration

I didn’t realise I should’ve registered for VAT earlier in the year until recently when I was preparing my accounts. I read about a ‘VAT amnesty’ recently- does this apply to me?

In July 2011, HM Revenue & Customs launched the VAT Initiative, which was for individuals and businesses that were trading above the VAT registration thresholds but had failed to register. Under the Initiative, traders would face reduced penalties if they came forward.

Sadly, traders wishing to make use of the Initiative should have notified HM Revenue & Customs by 30 September.

Having said that, HM Revenue & Customs encourage traders to come forward and declare any under paid tax, as they will be charged lower penalties than if HM Revenue & Customs catches them first.

If you would like some assistance with VAT registration and the preparation of your VAT returns, please feel free to contact your local TaxAssist Accountant.

Call us today to make an appointment with your local office

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0800 0523 555

Contact Us