HMRC changes central assessment process for late VAT returns

Central assessments may no longer be cancelled immediately upon submission of the late return. When traders miss the deadline for filing a VAT return, a ‘central assessment’ is raised by HMRC’s system. This is also known as a ‘VAT notice of assessment of tax’.  A central assessment estimates the VAT liability due to HMRC on […]

Further changes to VAT option to tax notification process

Notification receipt letters will no longer be issued with effect from 1 February 2023, says HMRC. Supplies of land and buildings are normally exempt from VAT. This means that no VAT is chargeable, but the person making the supply cannot normally recover any of the VAT incurred on their own expenses. However, it is possible […]