When a taxpayer submits a VAT return claiming a VAT repayment, HMRC may be liable to pay the taxpayer an additional repayment supplement (calculated at five per cent of the amount claimed) if it fails to release the amount due to the claimant within the legal time limit of 30 days.
Source RSM
Latest Posts in "United Kingdom"
- HMRC Policy paper: Budget 2025 document
- Briefing document & Podcast: E-Invoicing & E-Reporting in the United Kingdom: Scope and Implementation Overview
- Mandatory B2B e-invoicing as of April 2029
- UK Budget 2025: HMRC Eases VAT Rules for UK Businesses with EU Branches
- Budget 2025: Government Bans VAT Loophole for Uber, Bolt and Ride-Hailing Apps
