How long do vat inspectors come for

The meeting will start off by a short conversation with yourself or your accountant if it is in their office to go through the basic facts e. The Inspector will spend approximately two hours going through the detailed records, checking the calculations and the completeness of the accounting records and supporting vouchers.

The first meeting will be followed by a second and concluding meeting to go through their findings. They will advise you of any errors in your calculations or accounting procedures that will need correcting.

Is There Anything to Worry About? The VAT officers will explain their findings to you and discuss any problems or concerns they may have.

They will then contact you in writing at a later date to clarify any concerns they have and notify you of under- or over-payments. If you find yourself in this position, call us without delay and we'll do our best to help. It's important that you carry on business in the correct way — your local TFMC accountant will keep you on the straight and narrow and work with you to avoid any VAT problems.

If you haven't got anyone looking after your VAT Returns and other taxation issues, now is as good a time as any to talk to us. Want to prepare yourself a bit more for an upcoming VAT inspection? Read more here. If you would like to find out how we can help you with a VAT Inspection. He has over 35 years of experience in the Finance and Administration sector, firstly in the Oil Industry and more recently as Head of Statutory Government body. Download our app. Published: May 14th, in Accounting.

HMRC runs campaigns sometimes where a specific industry is targeted and unfortunately your business happens to be in that trade so gets an inspection. There are other reasons for getting a vat inspection; however we would say those are the main ones.

So now that you know your business is having a vat inspection, what are the top tips for a vat inspection, here are our top We usually correspond with HMRC directly and will request a delay if the client needs more time to get the records all together, eg. It goes without saying that good preparation is needed before a vat inspection to make sure all the information that the vat inspector has requested is there on the day and there is no information missing.

Bad preparation in this regard can lead to delays and delays can be expensive in terms of your time trying to get follow up information for a vat inspector. What matters in the vat inspection is that if the error has been discovered by you before the vat inspection in your preparation, our advice is always to disclose this upfront to the vat inspector at the very outset of the vat inspection meeting.