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VAT transfer from sole trader to ltd co

4 years late

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Good afternoon 

I have realised that a new client's VAT registration was never transferred from her sole trade business to her ltd co on incorporation 4 years ago. What would be the best way to deal with this? I intend to send a VAT1 and VAT68 with a covering letter to HMRC stating that all returns are up to date and there is no loss to the revenue as far as I know. 

Has anyone had a similar experience and what penalties if any should the client expect? I am surprised that this has not been flagged up by HMRC for such a long period!

Many thanks in advance for your comments.

Replies (2)

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By lionofludesch
02nd Mar 2019 13:37

I've never seen a penalty for this, provided all the returns were up to date.

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By Chipette
02nd Mar 2019 13:48

Thanks Lion that's reassuring.

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