VAT return corrections

Forum Categories VAT ADMINISTRATION ISSUES VAT return corrections

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  • #55590

    Due to recent staff shortages at my firm, a number of people have been involved in the completion of the VAT returns. It appears that while the returns have been filed, no partial exemption calculations were carried out on the last three VAT quarters returns, and input tax recovery was estimated.

    I have been asked to review to assist the company in bringing its VAT position up to date – can you please explain how to correct the returns, whether i should contact HMRC and what action i should take; any referennces or website links.


    Please note that you may face penalties.

    30% careless, 70% deliberate -through its possible to get reductions:

    Delayed tax payments= 5% of Potential lost revenue.

    Note for past errors you have two options (after netting off the errors)

    (i) to correct the errors on the next VAT return of the errors less than £10k or 1% of turnover (max £50k)

    (ii) if more, then you need to make a voluntary disclosure to HMRC.

    Hope this helps.

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