Section 73(1) and 73(2) assessments: Definition of under declaration and over declaration
There can be no under-declaration or over-declaration in a tax period unless a return has been submitted for the period.
In any single tax period an under-declaration or over-declaration is the net amount of all errors that you have discovered in that period.
Under-declarations of liability and over-declarations of liability are expressions defined in Part V - Accounting Payment and Records, Value Added Tax Regulations 1995.
Regulation 34(2) says;
‘In this regulation’