Gathering no MOSS

KEY POINTS

• Do small and micro businesses with few sales need to worry about the VAT mini one-stop shop?
• There is a nil threshold for affected sales but this is not immediately evident from HMRC’s website.
• The costs of compliance can substantially exceed potential liabilities for many small businesses.
• HMRC’s estimates of the affected businesses appear wide of the mark.
• Practitioners should check letters of engagement.

What would readers think of colleagues who advised their clients to ignore the self-assessment rules on the ground that HMRC were unlikely to find them out.

And what if they advised them that even if they did the tax interest and penalties incurred would cost the client less than engaging the services of an agent to sort the problem out?

This...