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How to do a VAT Return, pay your VAT bill, correct errors in your VAT Return, what to do if you're late with your return or payment.
Jan 4, 2023 · From 1 January 2023, you’ll get penalty points if you submit a VAT Return late (including nil payment returns). Find out how points work and how to avoid a £200 penalty.
Apr 9, 2014 · Use form WT2 if you have received a surcharge for submitting your online VAT Return late and you want to claim ‘reasonable excuse’.
The late submission penalty rules won’t apply to you if: You are a new VAT-registered business, and this is your first VAT return. You are cancelling your registration, and this is your final VAT return. You are making a one-off return covering more than a month, quarter or year.
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Jan 25, 2024 · How to Correct VAT Return Errors. HMRC provides specific processes to correct filed VAT returns containing errors: Record Correction Request; For minor corrections, submit a VAT652 form detailing the desired changes. This is suitable for small adjustments like: Incorrect bank details for refunds; Wrong reporting period corrections; Amending ...
Apr 1, 2023 · Submitting your VAT return. As well as late registration penalties, there are charges for VAT-registered businesses who are late submitting their VAT return. Contact HMRC straight away if you can’t pay your VAT bill on time. Even if you can’t pay the bill, you should still submit the VAT return to avoid additional penalties.
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Sep 3, 2019 · The deadline for your VAT return is generally one calendar month and seven days after the end of a VAT reporting period. But what happens if your VAT return is late? In this blog, we emphasise why judicious VAT returns and payments are essential, and what the consequences can be when you miss one. First, You’ll Receive A Reminder Letter.