VAT is one of the most complex tax regimes imposed on businesses.
It is a self-assessing tax, which means that it is the responsibility of the taxpayer to make sure that the correct amount of VAT is being declared on the VAT return.
As this requires expertise and clear understanding of the business, we work closely with our clients and offer tailored services.
If an error is found by an HMRC officer, where VAT has either been over-claimed or under declared, they will not only assess you for the VAT but will also levy a misdeclaration penalty of 15% (and interest).