Backdated VAT bill crisis

longforgotten

What happens then if they go back more than six years even ( I thought you only need to keep your invoices etc for that long)........


The Revenue would have details of the accounts so a flat rate vat scheme would have to be used, because the purchase invoices may have well been shredded. But then what about purchase of equipment etc in that time.

londonTiger

longforgotten wrote: »

What happens then if they go back more than six years even ( I thought you only need to keep your invoices etc for that long)........


The Revenue would have details of the accounts so a flat rate vat scheme would have to be used, because the purchase invoices may have well been shredded. But then what about purchase of equipment etc in that time.

If your accounts are sound and correctly done by a legitimate accountant you can destroy paperwork older than 6 years with safe knowledge that all the records are accurate.

If your accounts are dodgy, keep them for life as technically HMRC can go back however long they want.

JeanGray

Thank you all so much for your advice on here. Many of you have said I should seek professional advice but not sure who to go to, can any one give me some recommendations? I know I could look in the Internet and there would be loads of options but I have no way of telling which are the good reputable ones or the best to go to.

I have already sought advice from several local accountants (but there is no one I can find local to me who specialises in what is needed), also National Debt Line, Business Debt Line, Citizens Advice Beureau, Tax Aid, Mind, my local Law Centre, StepChange, Debt Support Trust but none of them are able to offer any specific advise on VAT, they just give me information on managing debt and bankruptcy.

Any recommendations would be appreciated.

AbbieCadabra

vatadvice may be able to help, he's a poster on a business forum i use.

good luck

cotswoldaccountant

I would recommend posting on accountingweb.co.uk as there are some extremely knowledgeable accountants on there including VAT experts - you may well be able to find someone with the specialist knowledge that you need.

AbbieCadabra

cotswoldaccountant wrote: »

I would recommend posting on accountingweb.co.uk as there are some extremely knowledgeable accountants on there including VAT experts - you may well be able to find someone with the specialist knowledge that you need.

The link i posted above is one of them