The vatrnan cometh
Page 4
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HE BACKLOG in collecting alue added tax should be leered by early October, ccording to HM Customs and xcise.
Around two million payment nd repayment returns, heques, and other documents /ere held up during the Civil
• ervice dispute, but traders are eing warned that once a repay-lent claim has been paid, they -1ust pay immediately any tax thich has been withheld from le Inland Revenue.
The vat office requires returns 3r the periods to the end of larch 1981 now, and is not oing to issue any individual iarnings. Assessments may be otified without warning.
In order to avoid creating a ew backlog, normal returns for le period of the strike will not low be issued, and instead reJrns for longer periods will be ;sued to get around the probm.
Traders who normally make
• uarterly returns will get a Febuary to July return instead of a ebruary to April one, the March 3 May return will be replaced by March to August one, and the kpril to June return will be re'laced by an April to September
Those who make monthly reams will get a five months' ream for the period to August 31. 1M Customs and Excise advise raders to destroy any existing eturns for the periods to the end if April, May, Jume, and July as iew return forms for the longer ieriod will be issued shortly.