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We have recently taken on a new client who exports goods and always submits repayment VAT returns.
We discovered while preparing the year-end accounts that no return was submitted for a quarter in 2018 which showed a net repayment of £20 000. As a strange twist to the tale HMRC issued a central assessment for £15 000 in this period; it was never paid by our client but was offset against repayment returns for later periods.
We recently submitted the late return and asked HMRC to cancel the £15 000 assessment but the department has refused and only repaid £5 000. This seems harsh and contradicts HMRC’s published policy of paying ‘the right tax’.
What are readers’ thoughts? Should we appeal to the tribunal?
Query 20 178 – Timed Out.
The trader should have discovered that there was a problem before 2023.
This...
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