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FAQs
How can HHM help businesses prepare for VAT inspections?
HHM provides expert guidance, assists in maintaining accurate VAT records, and offers comprehensive VAT services to ensure compliance.
What triggers a VAT investigation by HMRC?
VAT investigations can be initiated randomly, due to unusual transactions, or if HMRC suspects non-compliance.
What are the potential consequences of non-compliance during a VAT inspection?
Non-compliance can result in penalties, interest charges, and reputational damage to a business.
Can businesses appeal the findings of a VAT inspection?
Yes, businesses have the right to appeal the findings of a VAT inspection if they believe there are errors or discrepancies.
Is it advisable to have professional assistance during a VAT inspection?
Yes, having professional guidance, such as HHM, can help businesses navigate the complexities of VAT inspections and minimise potential liabilities.