Reason for VAT assessment

HMRC can assess in several situations, including where:

(1)a person has failed to make any returns required; or

(2)a person has failed to keep any necessary documents and has failed to afford HMRC the facilities necessary to verify such returns (ΒΆ58-500); or

(3)it appears to HMRC that such returns are incomplete or incorrect (VATA 1994, s. 73(1)).

Assessment using best judgment

HMRC may assess the VAT due from such person β€˜to the best of their judgment’ (ΒΆ58-400) and notify it to him (VATA 1994, s. 73(1)).

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.