bluekarin Posted September 23, 2013 Share Posted September 23, 2013 Our business has just received a letter informing us of this check they are about to do. Sounds scary! Has anyone had one of these done on their business? After a quick Google, it appears they get you at ease, and then hit you with the hard technical jargon stuff! Thankfully hubby deals with this stuff, but still will be a nerve racking time Quote Link to comment Share on other sites More sharing options...
yvonne Posted September 23, 2013 Share Posted September 23, 2013 I am an accountant, these visits are quite common and if you have not deliberately done anything wrong, you will be fine. Hide nothing and be honest, they will offer advice if you have made any honest mistakes, but come down very hard if you have deliberately falsified figures. Be well prepared and you should be fine. Quote Link to comment Share on other sites More sharing options...
bluekarin Posted September 23, 2013 Author Share Posted September 23, 2013 Thank you! As far as I know everything is up to date. Hubby has always made sure his VAT is paid on time. I just got worried when Googling it as some people think it can turn into an full tax investigation! We have nothing to hide, but things like this worry me especially as I don't understand it. Oh well, 3 years of info to sort out...... Quote Link to comment Share on other sites More sharing options...
Chucky Mama Posted September 24, 2013 Share Posted September 24, 2013 I have had 2 VAT inspection, one being a full one. It is pretty scary to think about but in reality it is fine. As long as you have clear records and keep well files invoices etc that you can pull out if they ask for one you should be fine. Be as organised as you can and make sure you have everything they ask for on their check list neatly and well organised. Quote Link to comment Share on other sites More sharing options...
bluekarin Posted October 9, 2013 Author Share Posted October 9, 2013 Well, today hubby phoned up HMRC to see if we could send our info out to them via email, to discover they had got his VAT code down wrong! The code the way it was meant we owed them £6000 *gulp* but now the code is corrected, they owe us about £200 *phew* So letter of closure is in the post, and no need to send our info now. Should have phoned weeks ago; would have saved a lot of stress and sleepless nights Quote Link to comment Share on other sites More sharing options...
