Expert in HMRC VAT Regs (Chartered accountant, tax adviser)
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Description
Experience Level: Expert
I am looking for some advice regarding a situation i am in with HMRC.
Basically, after a online compliance check, it came to light that i should have been collecting VAT earlier after the threshold no longer applied to Non-exempt tax persons (i'm based in the USA). This covers a period of several months from December 2012 onwards. HMRC has assessed an amount, but will not allow me to deduct input tax because the period in question is more than 4 years ago. They referred to regulation 34(1A).
I'm looking to see if they are in fact correct and if i have any options open to be. I'm currently on the FRS and intend to put in an additional application with a pre-dated start date beginning Dec 2012.
If you believe i have other options beyond a pre-dated FRS application, please let me know. I am happy to pay for any advice provided.
I am forced to put in a budget and have put in a very high amount to filter out the bots. The budget in question is not $500. I would imagine this task wouldn't take much more than a few paragraphs.
Thank you
Basically, after a online compliance check, it came to light that i should have been collecting VAT earlier after the threshold no longer applied to Non-exempt tax persons (i'm based in the USA). This covers a period of several months from December 2012 onwards. HMRC has assessed an amount, but will not allow me to deduct input tax because the period in question is more than 4 years ago. They referred to regulation 34(1A).
I'm looking to see if they are in fact correct and if i have any options open to be. I'm currently on the FRS and intend to put in an additional application with a pre-dated start date beginning Dec 2012.
If you believe i have other options beyond a pre-dated FRS application, please let me know. I am happy to pay for any advice provided.
I am forced to put in a budget and have put in a very high amount to filter out the bots. The budget in question is not $500. I would imagine this task wouldn't take much more than a few paragraphs.
Thank you
Arthur D.
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