business accounts SA tax return

by **Jambo55** on Tue Jan 17, 2012 2:27 pm

Hi all,

Can you please let me have your opinion, how do I go about preparing a set of business accounts and the associated SA tax return - I have recently (December) applied for a VAT exception, I breached the threshold approx 1 year ago, so my question is, to avoid a SA late penalty, do I;

1. File the SA return based on business accounts, being a non VAT registered trader
2. File the SA return based on B accs, with an estimated provision for VAT
3. Not file anything at all, suffer the fine, and wait for the VAT office decision on my exception request?

Any help much appreciated, thanks

by **mullet** on Tue Jan 17, 2012 10:19 pm

File whatever you think constitutes a "correct and complete return to the best of your knowledge and belief", and explain the situation in the space provided. Then you have until 31 January 2013 to amend your return (assuming that HMRC don't open an enquiry in the meantime). Remember to pay the tax liability by 31 January 2012.