HMRC updates online error reporting form
HMRC recently launched a new online form for correcting VAT return errors. What are the advantages of using it, and what changes have been made already?
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New HMRC guidance on winter fuel payments
HMRC has released new guidance on the recovery of winter fuel payments. What do you need to know?
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Festive tax breaks for remote workers
You’re familiar with the tax break for Christmas parties but you now have a few remote workers, and the company will need to reimburse their travel and accommodation costs if they attend an event. Which costs count towards the tax-free limit and how can you manage any overspend?
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New process for some exports starting in Northern Ireland
Starting next month, businesses that import goods via Northern Ireland will need to change their processes. What do you need to know?
The new online digital form for correcting VAT return errors went live in August 2022. It is now HMRC’s preferred option, and it is encouraging all businesses to use it instead of the paper Form VAT652. Among HMRC’s reasons for championing the digital form is an expected reduction in the need for officers to be spending time on corrections. However, there are also advantages for you. The form validates VAT numbers in real time, and flags potentially out of time corrections. This should cut down on simple errors. Additionally, some new functions have recently been added. It is now possible to upload supporting documents, e.g. invoices, to the form. There will also be prompts to check if a correction or payment has already been made to avoid duplication. It is also now possible to save a partly completed form and return to it at a later date. All of these additions should help to streamline your administration, saving you time. Further improvements are expected.
HMRC has promised to publish a detailed webinar looking at how to use the form in the coming weeks.
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