Idle Banter For non SV and non bike related chat (and the odd bit of humour - but if any post isn't suitable it'll get deleted real quick).![]() |
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#11 | ||
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![]() ( Providing the black pen is in greater use) |
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#12 |
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Ed, a bit of VAT insider information.
![]() Provided you have not been late with a previous VAT return or paid one late you are allowed one late return penalty free. Basically that will trigger a default surcharge liability letter basically saying if you are late with any others, THEN you will get a fine. We dont penalise your first late return with a huge penalty, there has to be a reasonable warning given to you by HMRC first. The penalties are: First late return - warning and youre put on DS liability for the next 4 returns Second late return within that period - 2% penalty, 0% if its a repayment due to you Third late return - 5% or 0% if repayment to you Fourth late return - 10% or 0% if repayment to you Fifth late return - 15% or 0% if repayment due to you. All subsequent returns will be at 15%. Hope that eases the pressure on you a bit. ![]() |
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#13 |
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Lyn - thank you
![]() The VAT return is actually very easy - and I have to say that HMRC staff are unfailingly helpful, they really are pleased to assist - but I can't do it until I get all the other stuff done ![]() |
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