Tax and VAT investigation

Keeping up-to-date with VAT rules is essential if you’re going to avoid harsh penalties.

The new penalty regime sees automatic penalties issued, even for an innocent error, unless you can prove you have taken “due care”. Instructing a tax advisor is considered evidence of this.

There are a number of indirect taxes, including VAT, which can all impact your business, like customs and excise duties, insurance premium taxes, environmental taxes and stamp duty. These taxes are governed by complex regulations that change on a regular basis. We can offer full support in managing your indirect tax requirements, making sure you fully comply with regulations whilst minimising your tax bill.

We assist our clients with the preparation of VAT returns, EC Sales lists and intrastat returns for submission to HMRC. We offer a tailored approach to your needs to ensure that not only are your compliance needs met but, where possible, value is added. We also deal with VAT registrations for new businesses and deal with any HMRC queries raised on your behalf. We liaise closely with our specialist VAT team who are always available to provide advice on technical issues.

Vat rules can be different for every business and there are a number of different vat schemes available – flat rate vat, cash accounting and standard accounting to name the main ones. But if you are vat registered, you need to take your vat returns seriously. There can be big penalties for late returns and late payments. This is money that few businesses can afford to throw away. Since the vat returns have to be submitted, why not ensure that this is done sooner, rather than later and save yourself valuable cash?

SHB can prepare your vat returns, either on your premises, or you can drop the paperwork to our office. These will always be done on time, as long as you provide us with the necessary information at the beginning of the month. We will ensure that the vat returns are calculated correctly and that you will pay only the vat that is due. We can be on hand for HMRC vat inspections and work with HMRC on any queries.