TaxCorporate TaxVAT mistakes threshold raised to £10,000

VAT mistakes threshold raised to £10,000

Previously the threshold had been just £2,000

The taxman is to let businesses correct their own VAT mistakes for sums of up
to £10,000.

Previously, traders could amend their VAT mistakes for the first £2,000, but
from July 1 that will go up by £8,000.

The move means they can amend their mistakes on their next return rather than
making a separate disclosure,
contractoruk.com
reported
.

Further Reading:

Read the
contractoruk.com
piece

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