VAT DEFAULT SURCHARGE: Reasonable Excuse for not paying VAT on time from 12/03 to 03/05 – cash flow difficulties stemming from inadequate control of expenditure and borrowings – A prudent business person acting with due diligence and reasonable foresight would have anticipated these difficulties considerably earlier than the Appellant – no reasonable excuse – alternative grounds for periods 06/04 and 03/05 -receivership of commercial customer and warehouse sale – no reasonable excuse – Appeal dismissed.
Citations:
[2006] UKVAT V19503
Links:
Jurisdiction:
England and Wales
VAT
Updated: 18 July 2022; Ref: scu.239987