VAT Crack-down
HM Revenue & Customs (HMRC) recently announced an initiative to crack down on VAT rule breakers. The new campaign will focus on individuals and businesses who are trading above the VAT threshold (currently £73,000 pa) but who have not yet registered for VAT.
The initiative is being discussed with interested parties to ensure HMRC has as much information from them as possible before launching the campaign later in the summer.
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