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Why is the VAT assessing time limit for tax lost due to carelessness different from that for Income Tax/Capital Gains Tax/Corporation Tax?

April 26, 2017assessing capital gains carelessness corporation different limit Lost tax time VAT

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Why is the VAT assessing time limit for tax lost due to carelessness different from that for Income Tax/Capital Gains Tax/Corporation Tax?

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In VAT the return is received sooner, and received quarterly. HMRC therefore does not at present see a need to extend VAT assessment time limits beyond four years even where the taxpayer has failed to take reasonable care.

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In VAT the return is received sooner, and received quarterly. HMRC, therefore, does not, at present, see a need to extend VAT assessment time limits beyond four years, even where the taxpayer has failed to take reasonable care.