Keepers Accountancy's Blog

VAT Errors - How Do I Correct VAT Errors?

  

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Firstly, if/when you find an error in your VAT records, don't panic!

As long as the net error amounts to VAT due of less that £10,000, or less than 1% of your quarterly turnover (subject to a 50,000 cap), then you can correct the error on your next VAT Return.

If the net error is larger than £10,000 or 1% of your quarterly turnover, then you need to write to the Tax Office, telling them exactly what caused the error, and how you have corrected the problem. We can help you with this; contact us here. 

Obviously, making a correction on your next tax return is the ideal situation, as it's the best and quickest option for most small errors. If you do not correct an error on your VAT Return, you could be penalised. For more info on this, click here. 

If you need help with your VAT Returns, you can contact us here free of charge.