Upon prepairing my clients accounts (to April 2017) i realised they had breached the VAT threshold early in the accounting year(May 2016). I had advised them in their interview for the previous year that they were close to the vat threshold, and explaned how the rolling monthly works. The client again contacted me during the 2016/2017 financial year asking about the vat thresholds which i correctly advised them on.
Unfortunatly i didnt get the books until late 2017 so this issue wasnt spotted until nearly 18months post the registration date. I only act as a tax advisor (not a bookkeeper) so only see them annually.
Is this my fault / responsibility? Could / should i have done more, or should the client have been keeping a closer eye on their business?