Error in VAT Payment

[gurinderc]

Dear All,

I found problem in my FRS VAT payment, I was filing less VAT to HMRC during last 3 quarter, I like to inform this back can you please suggest what is the best way to do this and what are the payment options.

Many Thanx
Gurinder

[KM-Tiger]

It depends how big the error is. For small errors you just correct it on your next return, no need to inform anyone.

The limit for a 'small error' used to be £2000, but was raised this year to £10,000.

[gurinderc]

It depends how big the error is. For small errors you just correct it on your next return, no need to inform anyone.

The limit for a 'small error' used to be £2000, but was raised this year to £10,000.

Thanks for the quick reply, the amount you are talking about is Invoice amount or the VAT amount?

Gurinder

[KM-Tiger]

VAT amount.

[MyAccountantOnline]

Dear All,

I found problem in my FRS VAT payment, I was filing less VAT to HMRC during last 3 quarter, I like to inform this back can you please suggest what is the best way to do this and what are the payment options.

Many Thanx
Gurinder

This might be helpful too -

http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_PublicNoticesAndInfoSheets&propertyType=document&columns=1&id=HMCE_CL_000077

[gurinderc]

Thanx a lot all, I think as I have minor error, I can opt for Option 1 for the payment in my next return.

Cheers