Chapter 8: VAT and PAYE administration Flashcards
1
Q
How do you report DELIBERATE VAT errors
A
Contacting the HMRC VAT Error Correction Team in writing and preferably using form VAT652.
2
Q
What is the error correction threshold?
A
the greater of:
- £10,000
- 1% of turnover (overall limit of £50,000)
3
Q
What should you do if the net error is BELOW the error correction threshold
A
adjust the error on the next VAT return.
4
Q
A
5
Q
A
6
Q
A
7
Q
A
8
Q
A
9
Q
A
10
Q
A
11
Q
A
11
Q
A
12
Q
A
13
Q
A
