- The Value Added Tax Amendment Regulations 2025 amend the VAT Regulations 1995
- HMRC is given the power to extend the time for businesses to submit final VAT returns
- Businesses must submit final VAT returns within a month of cancellation, with an extra week for electronic returns
- Payment is due on the last day the return is due
- HMRC processing delays can prevent meeting deadlines, leading to penalties and interest
- Historically, HMRC extended deadlines by administrative concession
- New regulations provide a formal basis for deadline extensions
- Regulations take effect on 13 June 2025
Source: taxscape.deloitte.com
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.
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