How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

Our company accountant has submitted VAT returns that were

Resolved Question:

Our company accountant has submitted VAT returns that were incorrect, going back 4 years. This was uncovered by a VAT inspection. We are now faced with paying an additional £27K VAT plus £1K interest and a suspended fine. Our accountant has professional indemnity insurance and has supplied the details. What do we need to state in the email to the claims handler which will back our claim for negligence.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.
For now please let me know whether they have admitted liability at this point? Alex
Customer: replied 1 year ago.
Yes, verbally they have admitted they made mistakes and we have the amended VAT returns which highlight that in every VAT quarter there were errors made.
Expert:  Ash replied 1 year ago.
You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.
The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.
Can I clarify anything for you about this today please? Alex
Customer: replied 1 year ago.
Thank you for your response. Can you clarify whether our losses include the VAT that has been underpaid - as we do owe this money but such a large sum will seriously hinder our cash flow. Can we claim for our time in responding to the VAT inspector? So, I suppose what I need to clarify is what would our losses comprise?
Expert:  Ash replied 1 year ago.
You could claim interest, penalties and time spent dealing with the inspection. But you can't claim the underpayment because you would have needed to pay that anyway. But if you need to borrow funds to repay it because of cash flow then you could claim interest paid on those sums. Can I clarify anything for you about this today please? Alex
Customer: replied 1 year ago.
No, that's clear. Thanks for your help.
Expert:  Ash replied 1 year ago.
Great. If I could ask you to rate my answer before you go today please, otherwise the site doesn't credit me for the time spent with you. Good luck. Alex
Ash and other Law Specialists are ready to help you