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HMRC internal manual

VAT Assessments and Error Correction

From
HM Revenue & Customs
Updated
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Error correction for VAT: Correction methods: Monetary limit for periods beginning before 1 July 2008

For errors discovered in prescribed accounting periods that began before 1 July 2008 a person can adjust their VAT account and include the net value of the adjustment in the VAT return for the period of discovery, if the net value is £2,000 or less. See VAEC7190 Example 1

For errors discovered in prescribed accounting periods that begin on or after 1 July 2008 the £2,000 net value limit has been increased, see VAEC7180 and VAEC7190 Example 2

Note: The legislation is covered in SI 1995/2518/Reg34 (1) and (3).