VAT returns not done
Wow, this is new
Thought I would sit down today and do the books for a new client picked up this week as they have all arrived, two years worth he is behind but all good!
Until I find the VAT records and returns that is....
He has dilligently prepared them all (not sure if at the time or just recently when getting the records up to date) going back 2 + years BUT has never submitted a single one, instead he has been paying the HMRC assesments that have been arriving.
Problem is the assesments are far lower than what his calculations are, I make it £10k+ shortfall from my initial review.
I am not yet appointed to act for VAT and haven't applied to be as he has always done his own returns (or so I was told...) so an immediate "holding" conversation with HMRC is not possible.
Before I launch into this one, my proposal would be to approach this as follows;
- Discuss with the client WHY he has not submitted the returns, (I suspect cashflow based on his description of where he is at financially)
- Get appointed with HMRC ASAP and arrange for the returns to be submitted (will he / I be able to do all the last 10 returns in one go online?) although owing to the amount I suspect it will be a voluntary disclosure in full as cumulatively it is £10k+
- If he is OK for me to submit and disclose in full now do I need any SOCA reporting OR is that dependant upon his answer as to why he has not submitted any returns.
- Obvioulsy there will be some intererest and penalties - which will need negotiating - when this is all resolved, but I will approach that later.
- And yes - I will insist on some fees up front on this one......
Any experiences readers could pass on before I approach would be most welcome as a sense check!
- Disbursement of recharge 391 3
- When to tick the estimated figures on ct600 58 1
- FHLs and Entrepreneurs Relief 310 9
- Mortgage Reference 915 16
- Payroll manager and the cloud 314 1
- CIMA CBA or AAT 118 4
- Rental of property in New Zealand 177 1
- VAT joint margin scheme arrangement 154 1
- RTI offline? 621 2
- Can a company claim R&D relief under both the SME and large company schemes? 187 1
- CIS and Xero 280 1
- AMAP on borrowed car?? 275 7
- Retrospective VAT Query 198 2
- property capital gains 414 4
- Chargeable Event - life insurance bond written in trust 171 2
- Client gets a penalty and being threatening! 961 9
- Tips on meals 574 5
- Private doctors - Ltd company vs partnership 1,358 15
- S.455 Tax again 457 9
- Overdrawn directors loans and insolvent winding up 259 3