Company not being audited but seen as a revenue risk

PatrickJ

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The company I work for is not being audited (this has been clarified) but we have been informed that we will be having a revenue visit to discuss the nature of our business etc.
Out of interest, what happens at these meetings, should all paperwork be at the ready even though this hasn't been requested.
 
At the moment they just want to clarify a few things about the business.

However you should probably treat it as if it was a revenue audit and have everything ready for them that they want to look at because if the revenue do find anything that is suspect they will be back. Ditto if they feel that there is a certain lack of cooperation and they are unable to get answers.

You should also consider a voluntary disclosure if there is something that you think may cause an issue.

capnhand
 
I had similar a couple of years ago. They just want to see what systems you use for records, what type of customers you have, how income is recorded, how imports are classified etc etc.

Obviously if they think the systems are not sufficient (e.g. a retail store without a proper cash register) then they may decide to do a full audit.

Generally, I have found any dealings with revenue or revenue customs to be very amenable and they are very much there to help if there are any small issues and obviously to check everything is above board.

If you don't have something to hand that they wish to see, they will ask you to send it on to them.

Think of it as a revenue health check.
 
what kind of documents did you need to bring with you?
Is it possible to chat to u about this?



I had similar a couple of years ago. They just want to see what systems you use for records, what type of customers you have, how income is recorded, how imports are classified etc etc.

Obviously if they think the systems are not sufficient (e.g. a retail store without a proper cash register) then they may decide to do a full audit.

Generally, I have found any dealings with revenue or revenue customs to be very amenable and they are very much there to help if there are any small issues and obviously to check everything is above board.

If you don't have something to hand that they wish to see, they will ask you to send it on to them.

Think of it as a revenue health check.

I had similar a couple of years ago. They just want to see what systems you use for records, what type of customers you have, how income is recorded, how imports are classified etc etc.

Obviously if they think the systems are not sufficient (e.g. a retail store without a proper cash register) then they may decide to do a full audit.

Generally, I have found any dealings with revenue or revenue customs to be very amenable and they are very much there to help if there are any small issues and obviously to check everything is above board.

If you don't have something to hand that they wish to see, they will ask you to send it on to them.

Think of it as a revenue health check.
 
what kind of documents did you need to bring with you?
Is it possible to chat to u about this?

Sure just send me a PM or ask any question here on this thread. As far as I can remember they had no interest in looking at the books but everything was to hand just in case they requested it i.e. list of all sales and purchases, copies of invoices. If you are seen to be upfront they wont audit you. I am aware that the company I am working for however did make a declaration before they arrived so if you need to declare anything it might be in your interest to do so to avoid an audit. If you feel you need some time to get your priorities in order simply write to the officer who is visiting you and ask them can you put off your review for another month.
 
I cant seem to pm u for some reason.
have you any idea what way the meeting format goes and whats asked etc.
First year of business so havent had to make any returns yet but they do state about declaring before hand which i dont think can apply here.

Sure just send me a PM or ask any question here on this thread. As far as I can remember they had no interest in looking at the books but everything was to hand just in case they requested it i.e. list of all sales and purchases, copies of invoices. If you are seen to be upfront they wont audit you. I am aware that the company I am working for however did make a declaration before they arrived so if you need to declare anything it might be in your interest to do so to avoid an audit. If you feel you need some time to get your priorities in order simply write to the officer who is visiting you and ask them can you put off your review for another month.
 
Hi Revo2008, you mightn't have enough posts to send me a pm so if I think of anything else I'll put it on here:

The format of the meeting was somewhat informal. One of the officers was friendly while the other not so. The not so friendly did not seem to understand the running of this type of business while the friendly one did and had to interject a few times to brief their colleague. This however slowed down the flow of the meeting. Once or twice "unfriendly official" began running through regulations and generally how to run the accounts system more efficiently. We all nodded our agreement but have since been informed by our accountants that "unfriendly official" was spouting nonsense so do keep yourself briefed i.e. on whether you are more suited to cash accounting or sales accounting. This was a big thing with them.

Questions asked were general questions i.e. what type of accountancy system do you run i.e. sage, excel etc. Give a brief description of your business. The meeting is quite short.

It seems odd that they would ask you to declare beforehand considering you have not made any returns. Are you a sole trader? Where you previously in business? Have you made vat returns?

If none of the above then your meeting should be very short and sweet.
 
Hi
Thanks for getting back

Full time PAYE and just took this as a weekend business.

Never had a company so always paye and not earning enough to be reg for vat.

Anyone we talked to can't understand just like yourself.

We have all the accounts up to date and Would be very willing to take an criticism on board to make sure every things ok.

I'll let u know how I get on.

Did u hear anything after the meeting?


Hi Revo2008, you mightn't have enough posts to send me a pm so if I think of anything else I'll put it on here:

The format of the meeting was somewhat informal. One of the officers was friendly while the other not so. The not so friendly did not seem to understand the running of this type of business while the friendly one did and had to interject a few times to brief their colleague. This however slowed down the flow of the meeting. Once or twice "unfriendly official" began running through regulations and generally how to run the accounts system more efficiently. We all nodded our agreement but have since been informed by our accountants that "unfriendly official" was spouting nonsense so do keep yourself briefed i.e. on whether you are more suited to cash accounting or sales accounting. This was a big thing with them.

Questions asked were general questions i.e. what type of accountancy system do you run i.e. sage, excel etc. Give a brief description of your business. The meeting is quite short.

It seems odd that they would ask you to declare beforehand considering you have not made any returns. Are you a sole trader? Where you previously in business? Have you made vat returns?

If none of the above then your meeting should be very short and sweet.
 
It is odd that they would chase you but by the sounds of it you have very little to worry about.

About two weeks after the meeting we received notification that they had no interest in auditing us and accepted the declarations that were made prier the visit.

They seem to be just generally trawling around.
 
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