Vat misdeclaration penalties

Vat misdeclaration penalties

Postby Aoki on Mon Mar 21, 2011 2:51 pm

I was in a partnership over 4 years ago that ended badly. We decided that as my business partner was responsible for the books, she should keep them. Consequently, the vat asked to see them but I was unable to get in contact with her as she moved abroad. I contacted them to explain the situation, but I was still fined for misdeclaration on the grounds that there was no paperwork to back up the returns submitted. They billed me for £90k, I appealed and lost, as I still couldn't get hold of any records but managed to grt them to agree to £100 per month, which I increased to £200 when I got a better paying job.
I sent them a letter to inform them that I was being made redundant, so the payments may be reduced. I made my last payment in December 2010 and recieved a letter informing me of arrears in February. I contacted them again and informed them of my redundancy, but was then sent a notice of distraint.
I contacted them again and paid them £100 from some freelance work I had obtained. They have now given me 2 weeks to see if I get a full time job.
I spoke to a friend and they said I should try and get copies of the bank statements for the business and submit it to them in order to possibly get the bill reduced. I am waiting for them to come.
Is there anything else I can do in order to reduce the amount? I know with no paperwork to substantiate the claimes it is going to be hard!
Aoki
 
Posts: 1
Joined: Mon Mar 21, 2011 2:31 pm

Re: Vat misdeclaration penalties

Postby wamstax on Mon Mar 28, 2011 11:56 am

Unfortunately at this late date there may be little that can be done to reduce the debt given that you seem to have agreed to pay £90K. What interests me is that the misdeclaration must have been quite large given that you accepted £90K and yet you do not seem to have taken advice from any suitable professional at the time.

Maybe now is the time for you to get assistance from a suitable professional or to contact either your local Citizen's Advice Bureau or http://www.taxaid.org.uk
regards and hope that this helps
bill@wamstaxltd.com
http://www.wamstaxltd.com
wamstax
 
Posts: 1515
Joined: Wed Aug 06, 2008 3:39 pm
Location: Operate Nationally but based in Aberdeen


Return to Tax Investigations

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site global tax seminars, conferences and other events Global tax jobs portal List of UK recruitment agencies and employers