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Easy VAT mistakes to watch out for

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We have been working in the accounting industry for several decades now. In this time, we have had the chance to help clients with all sorts of financial concerns. Ours is actually the leading team working in VAT returns Harringay has. When there is a problem, we discuss it with the client so we can come up with a suitable solution.

VAT returns HarringayThere are numerous regulations and rules surrounding VAT in the UK. It can be simple enough for businesses to make honest mistakes. Sadly though, they can result in substantial penalties. As a result, it is preferable for businesses to obtain specialist advice from a company like ours to avoid falling into these traps.

As for what the VAT errors are, the truth is they can come in a myriad of shapes and sizes. In general, they pop up when there is an error on your VAT return. This could be where a business fails to record VAT on sales where it should have been. They might also make a calculation error in a return. Additionally, a business may reclaim VAT on a cost when it should not have done it.

Rectify the errors

In many cases, you are able to rectify VAT errors on the next return you submit. With bigger errors though, you need to disclose them separately to HMRC. You should do this as soon as possible to begin correcting the problem.

Advice about VAT returns in Harringay

VAT is still difficult to understand for countless individuals. For this reason, we set up our business to help guide clients through the complex subject. We have the means to help you with any aspect of VAT, and can advise on how to rectify errors.

At Brian G Lonis & Co, we have developed a reputation for supplying first rate services and advice. We can do this for each client, regardless of their sector or size. Our offerings are high in value and cost efficient too. Not to mention, we tailor our services so they can best match your specifications.

So, if you wish to work with the best business specialising in VAT returns Harringay has, please contact us. We can learn more about what you need and offer a quote for the service.