P521ORACLE 521 Mon17 Feb C4 1704:47   £1bn OWED IN  VAT ─ ACCOUNTANTS New VAT rules are so complicated that only 6% of returns are being sent in on time, according to leading accountants Armstrong Watson. And more than £1bn is always owed to the Government, said Mr Bill Moffatt. He said thousands of small businesses, particularly in the seasonal tourist trade, could also be breaking the rules without realising it. He said many small firms may be unaware of the numerous and complicated regulations "because the VAT collection procedure has completely broken down". SKIING H/LS...........584