So the VAT man is coming soon...

[drivin_me_nuts]

VAT summary...check
VAT invoices....check
All receipts and bank statement...check

Anything else I need to think about? (First return)

[The Londoner]

Yep, don't expect too much light hearted banter from the inspector. Most have had a humour and banter bypass in my experience.

[Egbert Nobacon]

drivin_me_nuts said:

VAT summary...check
VAT invoices....check
All receipts and bank statement...check

Anything else I need to think about? (First return)

Make sure you give the VAT man the dingiest office you've got and ensure you've turned the heating off in there the previous day.

[smartie]

he might ask for annual accounts to confirm turnover is somewhere near.

[FUBAR]

Egbert Nobacon said:

drivin_me_nuts said:

VAT summary...check
VAT invoices....check
All receipts and bank statement...check

Anything else I need to think about? (First return)

Make sure you give the VAT man the dingiest office you've got and ensure you've turned the heating off in there the previous day.

And a fast acting laxative in his coffee

[Eric Mc]

Are you saying that you are having a VAT Inspector calling and you have only submitted one VAT return so far?

[epark]

Had an inspection in December, first for about 6 years and they seem more helpful and pro active than I remember.

Your inspection will have probably been triggered by some perceived anomally - in our case it was a very rare refund on a quarters return due to move of premises heavy capex increased stocking etc, so it might be worth tring to establish why they are calling the visit now.

I have heard many horror stories where they take businesses though the mill trying to find the smallest discrepancy, but equally if you can show efficient record keeping, and an honest business I don't think you need to worry too much.

[drivin_me_nuts]

Eric Mc said:

Are you saying that you are having a VAT Inspector calling and you have only submitted one VAT return so far?

...Yes Eric, my first one... We voluntarily registered for VAT as we have rather a lot of equipment etc that we wish to claim the VAT back for.

[Eric Mc]

It does seem strange that they want to inspect you as it is not unusual for 1st Returns to generate a refund.

[drivin_me_nuts]

Eric Mc said:

It does seem strange that they want to inspect you as it is not unusual for 1st Returns to generate a refund.

I suspect that it's probably to do with the name of my business more than anything else...(which I would rather not say here...) that has proved to be a very powerful starting point for conversation (and business) but could easily be misinterpreted as being for something entirely illegal and amoral.

I suspect it's nothing more than to satisy their curiosity... (well I hope so anyway)

[DavidY]

EricMC

In my experience the first return claiming a refund ALWAYS generates a visit, to make sure everything is in order and to delay the payment to you for a few weeks (not that I am cynical!)

davidy