The UK VAT legislation is becoming increasingly complex and is constantly changing, often in response to the European legislation on which it is based. This makes it a minefield for businesses and organisations whether they are a not-for-profit or a commercial trading company.
We know that HMRC are under mounting pressure to increase the amount of tax revenue collected. As a result this has led to a concerted effort on compliance and enforcement action, and the associated penalties for non-compliance. Here at Bedrock we think now more than ever before it’s important to ‘get things right’.
The penalties regime is heavily reliant on the concept of ‘reasonable care’, a highly subjective concept that often draws businesses and organisations into dispute with HMRC. A dispute with HMRC can become a costly and time consuming exercise and will invariably draw resources and focus away from your core business activity.
At Bedrock we have extensive experience managing disputes with HMRC and negotiating on behalf of individuals and businesses. We can support you in your dealings with HMRC or take on the management of the dispute on your behalf, working alongside your existing accountant should you so wish.
Case Study: VAT Assessment
When a business comes to Bedrock with a concern that their VAT Assessment is incorrect, our experts are able review and investigate the assessment to make sure that their business is not paying too much VAT. In this case study our client supplies engineering services to the building trade.Read case study
It’s not unreasonable to assume a government agency such as HMRC will make sure its assessment of tax liabilities is correct, however our experience tells us that this is not always the case. We know there is often an opportunity to reduce the value of an assessment, possibly even to nil. If HMRC raise an assessment that is found to be correct it’s quite often possible to mitigate penalties or have them suspended completely.
The Bedrock team has many years of experience of HMRC disputes from ‘both sides of the fence’ so we are well placed to identify, negotiate and implement the best possible outcome for all our clients.
Why not contact the Bedrock team for an initial free consultation.