When your VAT figures need review
If a return is approaching and the numbers do not look right, start with the underlying records. An unexplained software total is not a substitute for understanding the transactions included in it. Flag uncertainties before the figures are finalised.
Records behind the return
Keep sales and purchase invoices, credit notes and the related payment records available. Reconcile the bookkeeping and investigate items that have been entered twice, omitted or coded inconsistently. The return should follow a traceable record of business activity.
bookkeeping servicesPreparing and checking figures
Preparing the return involves reviewing the relevant period and resolving questions about the figures. Tell us about unusual transactions or changes in activity. A useful handover includes the issue and supporting documents, not just a final total.
Fixing record issues for future returns
If the same difficulties recur each period, consider the bookkeeping routine. A clearer method of collecting invoices and checking entries can reduce repeated queries. Where an earlier return may be wrong, discuss the facts before deciding how it should be addressed.
HMRC supportYour questions, answered.
What if invoices or receipts are missing?
Identify the transactions and try to obtain the supporting documents. The treatment needs review rather than an assumption based only on a bank payment.
Can you use my existing software?
Tell us which software is used and how the records are maintained. We can discuss access and available reports.
What if an earlier VAT return may be wrong?
Keep a record of the suspected error and the affected period. The appropriate correction route depends on the circumstances.