VAT

What businesses want

We know you want to be freed up from the drudgery of complying with Government regulations. You don’t want the hassle of dealing with this day-in-day out.

Person on laptopVAT

Making Tax Digital enables HMRC to launch more tax enquiries, resulting in more error spotting and subsequent fines. Because most bookkeepers are not trained and supervised, there is the possibility that the number of errors in your VAT return will be higher and you are at greater risk of incurring penalties.  

If that happens, It will be too late to rely on your accountant at year-end to fix your errors. This is because HMRC are expecting quarterly VAT reporting to be accurate and the 4 quarters to match the annual accounts. Monthly checks of the books is therefore essential to avoid a HMRC check which wastes a huge amount of your of time and can be costly in penalties.  

To remove these risks, we always check your VAT returns before submission.

There’s more detail on the pitfalls in our blog Making Tax Digital, The REAL Risk to Business. And there are free Energiser sessions available to explore this more. Just contact us on 01202 520010 or email.

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