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Quicker if businesses correct their own VAT mistakes
20 August 2010
Businesses have been advised by HM Revenue and Customs (HMRC) that it may be quicker if they themselves were to correct errors made in previous VAT returns.
HMRC said that if firms correct the errors, it will ensure the problem is resolved quickly and, if they are due a repayment, they may get it sooner.
HMRC has found that many of the mistakes reported to their Error Correction Team could have been amended and adjusted by the customer.
Currently, there is a six to eight week delay in processing corrections.
Guidance on correcting VAT return mistakes can be found at: http://www.hmrc.gov.uk/vat/managing/problems/corrections/correct-mistakes.htm
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