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bigduckontax
bigduckontax, Accountant
Category: Tax
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Experience:  FCCA FCMA CGMA ACIS
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I am a sole trader and owe outstanding vat should I contact

Resolved Question:

Hi
I am a sole trader and owe outstanding vat should I contact them as they have written to me or should I ask an expert to contact them on my behalf?
Submitted: 11 months ago.
Category: Tax
Expert:  bigduckontax replied 11 months ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

I assume that your business turnover has exceeded to turnover level of 83K in one year. I would suggest that in disputes with HMRC you are better to employ a local, trusted professional in this matter. They can perform the necessary procedures which may reduce or eliminate any penalties and settle with that Department.

I do hope that you have found my reply of assistance.

Customer: replied 11 months ago.
you recommend that I do not call them and reply to their letter?
Customer: replied 11 months ago.
Also yes over £83,000 turnover thanks
Customer: replied 11 months ago.
Also one last thing as owing os approx £24k in your experience will hmrc give me time to pay as a sole trader?
Customer: replied 11 months ago.
It is not a dispute the business has been training for approx 18 months and not paid any vat as yet due to my naivety. This is the first letter I have received from them and I now have a book keeper as I have kept all the accounts and invoices etc so can produce accurate files.
Customer: replied 11 months ago.
trading not training
Expert:  bigduckontax replied 11 months ago.

They may, better a staged payment rather than a bankruptcy and nothing! If you use a professional as | have suggested I think you will find such an agent better placed to negotiate. Unfortunately HMRC tend to the view that as you have had the money why can you not pay the tax due? A professional will be better placed in this matter. \the fact that you now have a bookkeeper will put you in a better position in negotiations, it shows a positive step forward.

bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 11 months ago.

Thank you for your support.

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