Budget 2008 > Indirect tax > Assessment periods for VAT extended
 

Assessment periods for VAT extended to 4 years

As part of the review of HMRC’s powers, deterrents and safeguards the time limit for raising assessments for under declared VAT will be increased by 1 year to 4 years with effect from 1 April 2010.

The time limit for taxpayers to obtain refunds of VAT will also be increased to 4 years.