Request for VAT inspection

[sal626]

If you haven't fiddled your VAT returns, you got nothing to worry about...

Had one a some years ago, this is before I was a contractor...had a small web development company, working from a converted loft.

Vat guy came, had a cup of tea, went over the files over about 3 hours, had lunch, asked a few questions and left.
They do get pedantic though....so best advice is to prepare all your files (invoices, receipts, bank statements, etc) beforehand.

[Alan @ BroomeAffinity]

A VAT inspection is an extremely straightforward affair for a one man contractor company. What you'll need to provide is - assuming FRS:

• Sales invoices
• Bank statements
• Copy accounts
• Purchase invoices for any capital items you've reclaimed on

(You may also need to satisfy the VATman that you are on the correct flat rate)

If you're not on FRS, you'll also need to provide purchase invoices and receipts for any VAT you've reclaimed.

The VAT man will then make sure they all match up. If they do, they'll be gone and you'll not hear from them for years.

A couple of other points:

1. I think it was Ardesco who mentioned the registered office thing: A VAT inspection will normally take place at the place of business which is often distinct from the RO so they'd probably still come to your house - if thats the place of business.
   
2. The OP's accountant really should know that the VATman should be given the bank statements.

[lexington_spurs]

Update

Hobnobs bought - VAT person visiting head office in about a months time. MyCo will be providing services remotely to ClientCo that day.

OP's accountant suggested ringing them to ascertain whether it was really worth their while coming to see a fistful of invoices. The bank statements bit was wrongly posted.

[lexington_spurs]

To close the thread ..

VAT inspector came, looked at bank statements, and compared with Box 6 figures on all returns to date. Looked at my excel comp of invoices per period and VAT calcs. Drank 1 cup Earl Grey, refused biscuits (smell of rat poison must have been overpowering.)

No excitement, no story.

[Gonzo]

To close the thread ..

VAT inspector came, looked at bank statements, and compared with Box 6 figures on all returns to date. Looked at my excel comp of invoices per period and VAT calcs. Drank 1 cup Earl Grey, refused biscuits (smell of rat poison must have been overpowering.)

No excitement, no story.

That's not the way things work around here. The creator of a thread does not automatically get the right to decide that it has run its course - just look at "test please delete".

But thanks for sharing this with us. It is always useful for the rest of us to hear about the experiences of someone who has actually been through one of these brushes with HMRC.