'VAT: Default Interest and net errors of less than £2 000
'The current practice described in paragraph 2.4 of Notice 700/43 (Default Interest) and note 4 on form VAT 652 of not charging default interest on net errors of £2 000 or less separately notified to HMRC will continue until the end of August 2008. However following the decision in Wilkinson v Commissioners of Inland Revenue this practice is not considered lawful and will be withdrawn with effect from 1 September 2008. This means therefore that all error notifications (previously known as voluntary disclosures) requiring an assessment may be subject to...
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'VAT: Default Interest and net errors of less than £2 000
'The current practice described in paragraph 2.4 of Notice 700/43 (Default Interest) and note 4 on form VAT 652 of not charging default interest on net errors of £2 000 or less separately notified to HMRC will continue until the end of August 2008. However following the decision in Wilkinson v Commissioners of Inland Revenue this practice is not considered lawful and will be withdrawn with effect from 1 September 2008. This means therefore that all error notifications (previously known as voluntary disclosures) requiring an assessment may be subject to...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
