VALUE ADDED TAX – wrong flat rate percentage – assessments upheld in principle but figures subject to adjustment following consideration of overstated turnover due to employee fraud – default surcharges – reduced by taking into account payment made to ‘wrong’ account – one penalty cancelled because payment by cheque treated as received by HMRC in time under VAT Regulations despite being posted to wrong ledger – reasonable excuse for all periods – surcharges cancelled – observations on the legal basis for allowing extension of time to make a return and to pay in certain cases.
Citations:
[2019] UKFTT 80 (TC)
Links:
Jurisdiction:
England and Wales
VAT
Updated: 23 October 2022; Ref: scu.641227