A common question amongst small business owners is whether or not they should register for VAT and what is the VAT Threshold?
By undertaking a regular VAT Health Check you will not only have peace of mind but it will show to HMRC that you care about the submissions your present to HRMC.
By taking out a VAT Health Check package, we will ensure that your business is working with its’ VAT obligations in line with current legislation. But not only that, we will ensure your VAT is being dealt not only efficiently as possible but present to you any opportunities we identify for saving VAT for your business as they arise.
Advantages of a VAT Health Check
One of the main advantages of having a regular VAT Health Check is that if an error is identified in your accounting you have demonstrated a willingness to address problems. This can only benefit your business and hopefully reduce any penalties that may result from inaccurate submissions.
What if I get a VAT inspection?
If you have taken out either of our VAT Health Check, VAT Returns or our subscription service is that we will be happy to represent you should HMRC wish to audit your VAT Returns or Accountancy submissions.
HMRC can launch an investigation into your VAT affairs either at random or because figures you have submitted to them do not look correct. They also conduct VAT inspections more frequently for industries that are more likely to to submit inaccurate returns or for industries that tend to have complex VAT affairs.
Contact Contractor Accounts VAT Team
To discuss our VAT Health Checks & Assessments service in further detail then please contact any member of our VAT team on +44 (0)131 464 0065 or fill in our contact form and a member of our team will be in touch.