HMRC 'VAT Initiative' Period Deadline

HMRC is currently targeting approximately 40,000 UK businesses who should now be VAT-registered, having reached the current VAT threshold of £73k.

The registration deadline is 30 September 2011, and failure by these targeted businesses to register for VAT will have serious implications. Basically if a business reaches the threshold and remains unregistered, HRMC will recoup the full tax owed and may charge a substantial penalty for non-disclosure.

If you think you may be one of those businesses and need assistance, please ring Michael Fagelman on 01329 821900.