- HMRC updated Notice 700/45 on correcting VAT errors and making adjustments or claims
- Section 4 now includes guidance on correcting VAT errors and consequences of not doing so
- Section 6 provides information on claiming input tax
- Section 7 details payment processes for underpayments and overpayments and HMRC’s response time
- Section 9 clarifies unjust enrichment, the reimbursement scheme, and repayment of interest on overpayments
- Additional changes clarify HMRC’s approach to VAT penalties and interest for accounting periods starting on or after 1 January 2023
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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