HERE COMES THE VAT MAN!

An initiative to catch VAT rule breakers has been launched by the taxman.

The scheme intends to target individuals and businesses that are trading above the VAT threshold but have not yet registered for VAT.

HMRC have begun discussions with interested parties to get the benefit of their views and experience prior to the scheme being launched this summer.

“Our aim is to get as much input as possible into our future campaigns so that the views and experience of people and organisations outside the department play a fuller part in what we design for customers,” said HMRC director of risk and intelligence Mike Wells.

The current VAT threshold is £79,000 turnover on a rolling basis.

For more information or advice relating to VAT contact Judith Smith on 07817 046096 or judith@jsaccountancy.co.uk