Vat Query
System
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Hi
Haven't had a look on here for some time but wondered if someone could help me on this one?
I have completed the accounts for my clients 1st quarter for 2005-06 (bit late I know but have been waiting for information from the old accountants)and have found that my vat return for this period is different from the one that his old accountants had calculated for that period.
I have written, emailed, phoned the old accountant several times for a vat breakdown to back up the vat return but am having no luck at all in getting any kind of reponse :evil: !!
I have checked and rechecked my figures and am confidant that I am correct.
The difference is about £300 extra that should have been paid, so is it ok to add this on to the next vat return as I am having no luck getting the info I need to reconcile?
Also if there were to be an inspection, am I right in thinking that as long as I have taken reasonable steps to recover the info I needed to reconcile the vat qtr in question, the old accountants would then have to co-operate?
Sorry for the ramblings but this is the 1st time I have encountered this sort of query and unresponsive accountants :evil: :evil: :evil: !!
Thanks in advance :?
Sharon
Haven't had a look on here for some time but wondered if someone could help me on this one?
I have completed the accounts for my clients 1st quarter for 2005-06 (bit late I know but have been waiting for information from the old accountants)and have found that my vat return for this period is different from the one that his old accountants had calculated for that period.
I have written, emailed, phoned the old accountant several times for a vat breakdown to back up the vat return but am having no luck at all in getting any kind of reponse :evil: !!
I have checked and rechecked my figures and am confidant that I am correct.
The difference is about £300 extra that should have been paid, so is it ok to add this on to the next vat return as I am having no luck getting the info I need to reconcile?
Also if there were to be an inspection, am I right in thinking that as long as I have taken reasonable steps to recover the info I needed to reconcile the vat qtr in question, the old accountants would then have to co-operate?
Sorry for the ramblings but this is the 1st time I have encountered this sort of query and unresponsive accountants :evil: :evil: :evil: !!
Thanks in advance :?
Sharon
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Comments
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Re:Vat Query
Hi Sharon
You can self-correct VAT errors with a netted off value of £2,000.
I would however keep detailed records and notes about how you arrived at your calculations just in case....
I have got a client who used to do his own VAT (he's since seen the light!) and when I came to doing his annual accounts there would always be adjustments, and so I got him to the adjustment on the next return.
Claudia0 -
Re:Vat Query
Thanks Claudia, that's what I thought.
It's just good to clarify.
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