Taxman targets hauliers over VAT registrations
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ROAD TRANSPORT operators are being targeted by the taxman to get them to register for VAT before the deadline of 30 September, or face stiff penalties.
The campaign focuses on unregistered businesses above the £73,000 VAT threshold. If operators make a full disclosure to HMRC before the deadline, most will face a low penalty rate of 10% on late VAT. Businesses that come forward will have until 31 December to pay up.
“I urge people who have not registered for VAT to get in touch and get their tax affairs in order simply, and on the best terms,” says Mike Wells, HMRC’s director of risk and intelligence. Operators can register online at www.hmrc.gov.uk/ris/VAT/
Other sectors targeted include construction and agriculture.
HMRC has also announced new penalties for late self-assessment tax returns. They start with an initial £100 ixed penalty and range up to 100% of the tax due after 12 months. In the latter case, for instance, a haulier owing £1,000 could be charged £2,000.