ÀÏ˾»úÎçÒ¹¸£Àû

When will HMRC issue an assessment?

VAT registered businesses have a legal obligation to submit their VAT returns and payments within specified time limits (due date). If the returns are not submitted or not received within the time limits or the returns submitted contain errors, HMRC has the power to raise an assessment, to the best of its judgement, to the business in order to collect the VAT due.

Assessments can be raised in a variety of circumstances, including where:

1. •

   a VAT return is missing, incorrect or incomplete

2. •

   an amount had been credited to a business which it was not entitled to

3. •

   a business has not kept required documentation and HMRC has not been afforded the facilities required in order to check the accuracy of returns

4. •

   HMRC considers that the returns submitted are incomplete or inaccurate

The main powers that HMRC have to issue assessments are contained in VATA 1994,