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VAT underpayment

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09-09-2006, 06:18 AM

jan Blackler jan Blackler is offline

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Join Date: Feb 2006

Location: UK

Posts: 8

VAT underpayment

I thought I posted this but I can't find it again. I have just discovered that I have underpaid my sales tax by thousands this year to the HMCR because I have been posting the VAT cheque to the vat control account which i thought would be correct, only to find it has been adding itself on the VAT input for the following quarter, artificially reducing the payment. It seems my accountant knew about this, but did't warn me. How do you avoid this?

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