HM Revenue & Customs should offer compensation to those businesses stuck on a VAT waiting list, the ICAEW has recommended.
The institute made the recommendation in a paper to HMRC suggesting how to resolve the 3-month backlog.
The ICAEW also wants a parliamentary inquiry into why the delays in obtaining a VAT number, which apply to online and paper registrants, are getting worse.
The ICAEW said in a statement:
"We are concerned that the continuing delays have damaged HMRC's reputation and will act to discourage good tax compliance from taxpayers."
Source Accountancy Age
