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    ICAEW demands compensation for VAT backlog

    ICAEW demands compensation for VAT backlog

    Recommendation made in a paper to HM Revenue & Customs

    Author Date published August 15, 2007 Categories

    HM Revenue & Customs should offer
    compensation to those businesses stuck on a VAT waiting list,
    the ICAEW has recommended.

    The institute made the recommendation in a paper to HMRC suggesting how to
    resolve the 3-month backlog.

    The ICAEW also wants a parliamentary inquiry into why the delays in obtaining
    a VAT number, which apply to online and paper registrants, are getting worse.

    The ICAEW said in a statement: ‘We are concerned that the continuing delays
    have damaged HMRC’s reputation and will act to discourage good tax compliance
    from taxpayers.’

    Further reading:

    VAT payers will be pleading innocence

    VAT fraud cases pour into courts

    SMEs demand strategic help from accountants

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