Monday 10 September 2007

VAT registration delays!!

I suppose VAT registration delays are the the price to pay for HMRC's increased
vigilance against missing-trader fraud and carousel fraud. However, it is hitting
the cashflow of new companies with the inability to invoice properly.

http://www.contractoruk.com/news/003334.html
"HMRC has said there is a temporary worsening of the VAT backlog due to 20,000 applications received from newly-incorporated companies, as a result of the managed service companies rules in the Finance Bill 2007."

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