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Legal Digest


Surviving a VAT Visit


For even the most conscientious of business owners, a VAT inspection can bring a degree of panic! It’s the fear of the unknown more than anything.


Y


ou may immediately phone your


accountant for advice or to check whether your tax investigation


insurance, (if you have it) covers the VAT inspection, but the main thing that will help you to feel more in control is simply to be prepared! HMRC issue a letter notifying you of the visit several weeks in advance of the day, highlighting the records that the business should have ready and confirming the period which will be under review.


The aim of an HMRC visit is to gain an understanding of what your business does, to determine whether you are


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