subject: Avoid Any Investigation By Hmrc By Outsourcing Vat Affairs Of Your Business [print this page] As HMRC continues to be strict with regard to the tax return completions amongst businesses across all commercial sectors, the number of individuals and business concerns being investigated by the VAT officers is on the rise.
Even the thought of a visit from a VAT official can be a frightening one, which is why the solution to be free from this stress is mentioned here.
To begin with, you might be curious out of the reason the VAT officer has decided to visit you.
There are a large number of probable reasons because of which you may be visited by HMRC. It may be possible that earlier you have come to the notice of HMRC as a result of non-compliance in the past. This might be the fact that you have been charged with default surcharge penalties, have delayed in making VAT payments or in the worst case, may have evaded your VAT payments. Another one could be that HMRC wants to be sure regarding your customers and/or suppliers. If HMRC has obtained some information from an external party because of which it may be compelled to pay you a visit. In a certain case, HMRC has noticed higher than regular repayments or claims which have not been made in the past. It may be that the industry in which your business belongs has been recognised as a risk sector and is the next target of HMRC. You may get a visit from an officer of HMRC if the earlier VAT returns that you have made have failed a credibility check.
At first, HMRC may get in touch with you by phone with the intention of resolving any doubts, however as observed in the past, HMRC officers tend to go for a person to person meetings in the first case.
In general, HMRC contacts you by means of phone or post in order to organize the visit in advance. Additionally, within the first meeting, the VAT officer will specify which records will be required to be made available for the appointment, or may even request for particular information to be forwarded prior to the meeting. In rare cases, the VAT officers may pay you a visit without warning; however this is generally when a complete investigation is on the go.
Whatever your VAT circumstances come about, it will be helpful to you to employ VAT Outsourcing India services. If you choose to take up the VAT subcontracting services for taking care of all your VAT affairs, it will be useful as they will do the work accurately that there will be very less chances that VAT officers will visit you, thus, letting you have total peace of mind.
