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VAT Penalties: Have I a Reasonable Excuse?
VAT Penalties Have I a Reasonable Excuse Author:Stephen Taylor, Shelagh Pearce Whilst VAT penalties are best avoided, even the most careful business or trader may be caught by the system. This book explains how to mount a defence against the penalties as well as how to avoid them. This guide aims to provide accountants and advisors with a straightforward explanation of the penalty system. It discusses the most common reaso... more »nable excuses proffered to VAT tribunals, with a guide as to the success and failure rates of these excuses. This is expanded by a series of tables providing reference to the most common excuses and the relevant cases. Practical guidelines are given regarding how to appeal to a VAT tribunal and help with the preparation and presentation of the appeal. Main features of the book include an explanation of the law on penalties, details of the relaxations in the rules governing the serious misdeclaration penalty as introduced in 1992, and planning points to avoid or lessen the effect of penalties. Separate chapters are devoted to "reasonable excuse" as it relates to belated registration, default surcharge and serious misdeclaration penalty. This book also gives samples of relevant useful forms and notices.« less