VAT Campaign

Should you be VAT registered and have not done so? If yes then you could shortly be getting a letter from the VATman. On an initiative announced in July 2011 over 40,000 letters will go out to traders who have turnover in excess of 73K but who are not registered. In addition to VAT they will be invited to disclose any other tax arrears.

The carrot? A lower penalty than normal. The stick-substantial penalties and even criminal prosecution for those who fail to come forward. This disclosure window will close on 30.9.2011.

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