Warning: retrospective reduction in the price of supply
The law is prospectively to be amended from September 2019 to cover the treatment of supplies where there was a retrospective reduction in the price, in particular when VAT returns must be adjusted, and credit notes issued.
Methods of correcting errors on VAT returns
If a person discovers that an error has been made in one or more of his earlier returns, he must consider:
(1)whether the error is out of time under the four-year cap and so cannot be corrected (¶55-250); and