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What to do when you receive a VAT assessment#AskAMS

HMRC will send you a VAT assessment when you are late submitting your Vat Return.

The reason is that they require both the Return and the payment to ensure that they match. If you pay the assessment you could wait a very long time for them to correct the amount after you send in your Return, which is especially annoying if they owe you money!

What to do:

Firstly, make some time to prepare your outstanding VAT Returns (or provide the necessary information to your accountant). Then submit any late Returns as soon as possible and pay the actual amounts due (if you can). If you do this within a few days of receiving it, you can ignore the VAT assessment.

AMS Accountancy Swindon and Wiltshire

AMS Accountancy Ltd

AMS Accountants in Swindon provide a complete accountancy service for small businesses in Wiltshire and a monthly accountancy service for contractors throughout the UK.

Delta 606, Welton Road, Swindon, SN5 7XF

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