VAT Return

S11AHSS11AHS Feels At HomeRegistered Posts: 38
Hi
Can anybody tell me if a business owner could complete its own VAT return or does it have to get it completed by an accountant.

A friend of mine asked me if he could complete a VAT return himself and save money.

Does any accounting standards stop him from completing his own VAT return himself?

thank you

Comments

  • PencilPencil Feels At Home Registered Posts: 97
    Many many years ago, I used to complete the VAT returns for my (now ex) husband, he would sign them off as the owner and then later as company director when his company went Ltd.

    Unless legislation has changed I would say it was fine. Customs will go through the same checks regardless of whether an accountant has completed them or not. If in any doubt a quick phone call to them will put your mind at rest
  • farmergilesfarmergiles Font Of All Knowledge Registered Posts: 1,693
    At the end of the day, the business owner is responsible for the VAT so there is no reason why they can't do it themselves, apart from doing us out of work and probably overclaiming! Then we have to sort out the problems at the year end!
  • BaggybooksBaggybooks Experienced Mentor Registered Posts: 522
    Hey! Some of us know what we're doing!

    :crying:
  • farmergilesfarmergiles Font Of All Knowledge Registered Posts: 1,693
    Grovel, grovel!
    I agree that quite a few of you know what you are doing. I was aiming at the small 1 to 2 man businesses who try to save £50 -100 per qtr by doing their own VAT and invariably overclaim on their expenses and under declare their income because they can't afford a big VAT bill!
  • BaggybooksBaggybooks Experienced Mentor Registered Posts: 522
    You mean that isn't what I should do?
  • farmergilesfarmergiles Font Of All Knowledge Registered Posts: 1,693
    :001_tt2:
  • BaggybooksBaggybooks Experienced Mentor Registered Posts: 522
    :001_tt2::001_tt2::001_tt2::001_tt2::001_tt2:
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