I've started a new job as a financial manager and have come across a couple of tax underpayments, including:
1) No VAT restriction on customer gifts > £50
2) Uniforms provided to staff: logoed tops but unlogoed trousers. No BIK declared in respect of the trousers
There's no suggestion of deliberate evasion, just unawareness of the rules. External accountants have not picked up on either of these items. I'm concerned though that, with the business already facing significant losses this year due to Covid-19, my observations will not go down well at all. Voluntary declarations covering the past 4 year (VAT)/6 years (PAYE) could cost almost £10k.
Anybody else faced this scenario?