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A recent tribunal case about a business that deliberately altered its VAT return dates to help its cash flow.
KEY POINTS
- A business altered its VAT accounting to improve cash flow.
- HMRC charged a penalty for a deliberate error.
- When would a penalty under the delayed tax rules apply?
- Look at how an error is made rather than when.
It is a fact for those of us working in tax that however many different situations we encounter there is always a new one lurking around the corner. Clients do the silliest things!
Imagine this: a client has had a compliance visit from HMRC. The officer found that the owner had deliberately altered his accounting software so that the VAT return excluded all output tax and input tax for the last day of each quarter which would instead be declared in the next quarter. So the output tax and...
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