It Pays to Get the VAT Basics Right 3 - Addressing Risk

Here at The VAT People we regularly advice and assist businesses who have made errors in VAT accounting, resulting in their either paying too much or too little VAT to HMRC. This can occur if the business is in an area that it technically complex for VAT or there are grey areas in HMRC’s guidance relating to the client’s supplies. However, many of issues that we help clients to successfully resolve are as a result of their having a genuine misunderstanding or lack of knowledge of VAT. Unfortunately ignorance of the law is no defence in HMRC’s eyes against an assessment for VAT, interest and penalties of up to 100% of the VAT due. So how can a business address its VAT knowledge gap?

Here at The VAT People we offer bespoke VAT training tailored to the individual needs of the staff at the business we are training, this helps reduce the risk of the staff miscounting for VAT. The training that we provide is proactive and not just a talk and chalk. This means that if it is identified during the training that there is an area where the staff lack VAT awareness this is addressed as part of the course if possible, or followed up afterwards.

In addition we offer training packages where we:

 Undertake a pre review of the way that the business accounts for VAT, identify any problem areas or missed VAT opportunities and Provide follow up VAT training to address the points that have come out from the review.

All our training courses carry CPD points, and all our courses contribute to your business being able to demonstrate to HMRC that it has taken reasonable care with accounting for VAT.

Please contact our training manager Tamara Habberley on 0161 477 6600 or email tamara.habberley@thevatpeople.co.uk

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