• Virtual FP

Health Checks – or It’s a Worry

There is little doubt that a visit from HM Revenue & Customs (HMRC) is something that every business owner feels a certain apprehension about and this can range from ‘apprehension’ to outright terror! Some owners have everything to fear as they are deliberately fiddling their taxes. We will not and cannot condone such behaviour and those people deserve to be scared. However, it is nevertheless true that many honest, upright citizens feel scared of HMRC these days because the regime now is:

 

 - make a mistake and pay a penalty! 

 

Listen carefully to HMRC adverts and you will hear that being said, tactfully of course. Then these is always the fear that a total failure of cash flow will catch up on you. Do you really know that you are monitoring your situation so that you know when you will have a problem?

 

With such issues it is far better to have a friend find these things out rather than an HMRC Inspector or Bank Manager.

 

Would you like the peace of mind of knowing that your tax affairs and financial information system had been reviewed by a qualified accountant so that you can be certain you have no lingering ‘skeletons in the cupboard’?

 

We offer a very reasonably priced PAYE and VAT health check service. This involves having a meeting with you, the owner plus your accountant, Bookkeeper or Administrator to find out how you actually deal with your payroll, expenses, subcontractors and VAT matters. If we find any areas of risk, we conduct a more detailed review of those areas. Similarly, if any problems are identified we work with you to put them right. If the worst comes to the worst and it is necessary to notify HMRC that something is wrong, then we can bring in an expert to work with us on ‘damage limitation’ before HMRC become involved. Experience shows that working this way massively reduces the cost of such problems.

 

We can also review your financial information to make sure it is highlighting to you the potential problems you need to know about in advance. If it is not then we can of course work with you to make sure it does give you the information you need in future.

 

Hopefully of course, any problems we find will be minor and can be easily corrected so that the only outcome for you is that you can enjoy a better night’s sleep!

To arrange your no-obligation PAYE and VAT health check why not call us 0113 322 0006, email us at freedom@virtualfd.co.uk Skype us at Virtual FD, or send us a direct message on Twitter: @VirtualFinance.

You have nothing to lose and peace of mind to gain!