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HMRC Changes Late VAT Returns Assessment Process

The HMRC has recently implemented changes to the assessment process for late VAT returns, affecting how taxpayers are evaluated and penalised for filing returns after the deadline. Key Takeaways: The new assessment process for late VAT returns has been implemented by HMRC Previously, a central assessment would be automatically raised by HMRC's…

HMRC VAT Deferral Scheme

COVID-19 left many businesses facing financial hardship in 2020. As a way to ease some of the pressure, HMRC allowed the payment of VAT due between 20 March 2020 and 20 June 2020 to be deferred until 31 March 2021. …


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