Hugh Mainprice Partner in Mainprice & Co feels there is a need for a proper clearing procedure for VAT
VAT is a self-assessing tax with the onus of accounting for it correctly firmly placed on the taxpayer. It is thus of great importance that there should be a proper procedure by which the taxpayer can obtain an advance clearance for the tax status of any proposed new business venture. Regrettably despite protestations by Customs there is no such procedure.
When VAT was being introduced there was a statement on the proposed tax in the Green Paper — March 31 1971 Cmnd 4621 — that it was to be a radical simplification of a tax system which has been allowed to become too complex and discriminatory. This was compounded...
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Hugh Mainprice Partner in Mainprice & Co feels there is a need for a proper clearing procedure for VAT
VAT is a self-assessing tax with the onus of accounting for it correctly firmly placed on the taxpayer. It is thus of great importance that there should be a proper procedure by which the taxpayer can obtain an advance clearance for the tax status of any proposed new business venture. Regrettably despite protestations by Customs there is no such procedure.
When VAT was being introduced there was a statement on the proposed tax in the Green Paper — March 31 1971 Cmnd 4621 — that it was to be a radical simplification of a tax system which has been allowed to become too complex and discriminatory. This was compounded...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
