- HMRC updated VAT Notice 700/18 on Bad Debt Relief.
- The update details when and how businesses can claim relief.
- Businesses can claim if they have unpaid supplies and meet specific conditions.
- Conditions include accounting for VAT, writing off the debt, and a six-month unpaid period.
- Claims must be made within four years and six months of the due date.
Source: marcusward.co
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United Kingdom"
- Tribunal Rules Nitrous Oxide Not Zero-Rated Food in Telamara VAT Case
- Call for VAT Cut on Roadside EV Charging as Costs Near Diesel Parity
- Tribunal Orders HMRC to Disclose Evidence in CIS-Pay Ltd Kittel Appeal Case
- HMRC’s Strict Evidence Requirements for Zero Rating Exports Upheld in H Ripley Case
- EU Zero Rate for Exports Valid Without Full Documentation if Goods Clearly Leave EU