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What support is available to produce accurate VAT returns?

HMRC have extended the existing "estimation" rules to include COS VAT claims as well as on business VAT. This means that you can write to HMRC to explain why you cannot produce accurate returns and a method by which you could estimate the figures. HMRC will only agree to an estimation where return figures cannot be produced accurately. It will not cover situations where VAT figures are known but where a "best guess" is being used to establish whether VAT on an item is recoverable for example. NHS SBS VAT processes are currently functional, as such estimation is unlikely to be appropriate for our clients. As HMRC will usually agree a prudent approach in  many cases estimation can also produce a lower VAT recovery than would be available on an actuals basis. Please contact the VAT team if you wish to discuss this.

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