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The Importance of Accurate VAT Returns for HMRC Compliance
Introduction In the UK, Value Added Tax (VAT) plays a vital role in the country’s tax system. Any business with a taxable turnover above the VAT threshold (currently £90,000 as of 2024/25) must register for VAT and submit regular VAT returns to HM Revenue & Customs (HMRC). But submitting a VAT return is not just about filling in a form. It requires accurate record-keeping,...
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