A VAT inspector is coming to check on my VAT returns since the formation of my company. I have no worries about this since I believe everything has been done correctly. I have also been through all my records again to just make sure all is okay, including non-VAT stuff. (I realise that inspectors may spot other issues which could trigger more visits.)
Although the HMRC letter says the inspector is looking at the returns for VAT since the formation of my company and trying not to be cynical, is he likely to ask for any VAT information prior to company incorporation?
Again, I believe all is in order from my days as a sole trader, but if the inspector was to ask, I would like to have re-checked earlier records just to re-assure myself.
At the same time, if the inspector sticks to the time frame, then I don’t want to waste my time by going over old records. So … the letter says a check on VAT since company formation. Is that 100% the case? Anyone had a different experience?
Regards
Ralph
Replies (6)
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VAT inspection
HMRC Officers do go beyond their brief, so you may be asked questions beyond the scope of the letter. I would only prepare what he has asked for, and then deal with other questions as they arise.
He can't go back any further!!
As nothing existed for VAT purposes prior to the incorporation of the company he can't go back any further as there was nothing in existence in relation to this VAT registration.
So just stick to the Ltd company trading and no more.
Misunderstanding?
As nothing existed for VAT purposes prior to the incorporation of the company he can't go back any further as there was nothing in existence in relation to this VAT registration.
So just stick to the Ltd company trading and no more.
I think the OP is saying that he was VAT registered himself as a sole trader before the company took over the business. So there is something in existence, VAT-wise, from prior to the incorporation of the company - namely the accounting records and, assuming he does not fall under a bus before the day of the visit, the OP himself.
Even so
John they are two different entities and i would say he can still only ask about the Ltd company. If he wants to discuss another entity then write in. However, if the VAT number was transferred between the two entities then he will have to answer questions for both.
Yes but you didn't say he wasn't allowed to ask - you said there could be nothing to provide even if he was allowed to ask and did so. That was what I disagreed with.