HMRC Announce VAT Amnesty



HM Revenue and Customs have announced that they are going to launch a VAT amnesty aimed at businesses whose turnover is above the VAT registration threshold (currently set at £73,000) but are not VAT registered.
The terms of the amnesty are yet to be released however recent amnesties for other taxes have included reduced penalties where the disclosure is made under the terms of the amnesty. 
If you believe that you may have undisclosed VAT liabilities please contact Eaves & Co on 0113 244 3502