Demands for compensation over VAT delays
The Institute of Chartered Accountants in England and Wales (ICAEW) is calling on the taxman to compensate businesses which have been stuck in limbo while waiting to register for VAT.
The wait to obtain a VAT number - which firms need to claim back VAT they charge their customers - is lasting for up to three months.
The delay is being blamed on more thorough checking procedures by HM Revenue & Customs (HMRC) staff, which ICAEW claims were introduced without adequate resources, Contractor UK reported.
