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January 2013

VAT returns deadline

From 9 January 2013 HMRC will be embarking on a new campaign to chase businesses with outstanding VAT returns. Failure to submit a VAT return is an offence and penalties may be issued, in addition to the VAT you already owe.

Outstanding returns must be submitted online as soon as possible as failure to submit the return(s) online will lead to further fines.

Even if you cannot pay the VAT you owe, it is recommended that you complete and submit the outstanding return(s) anyway and then contact HMRC on 0845 302 1435 (Business Payment Support Service) or 0845 010 9000 (General Advice Line) and negotiate a "Time To Pay" (TTP) arrangement. 

HMRC's agreement to a TTP arrangement is not a guarantee so you must have justifiable reasons for further deferral of payments.

If you would like to talk to someone about your VAT returns, please contact Prime today on 02476 518 555 or 0121 711 2468.