VAT application team visit

[George Smiley]

I have a consulting company(International business/trade advisory) which I registered last year and have been operating from home even though I paid for an address in Central London which also appears on business cards and website.

Few months ago I applied for voluntary VAT number from HMRC via accountant who has just had a surgery. HMRC team will visit me tomorrow. Should I be worried? I've already sent them invoices and business bank statement as per their request when I applied. I told them that my main place of business is my home address.

I really dont need VAT number but I thought why not have it considering my business in mainly outside UK and for credibility purposes it will have an impact . Any inputs on what I should expect will be greatly appreciated.

 

[Karimbo]

if you have nothing dodgy dont worry. But issuing VAT number is serious business as there is potential for someone to take huge stacks of money from the treasury through VAT fraud. There was a guy who ran a carousel fraud operation basically claiming hundreds of millions of pounds of VAT for nonexistent trade. The reported level of revenue basically made them UKs biggest phone dealer.

So they need to check everything especially when you are doing EC trade.

 

[George Smiley]

my business is in emerging economies of Africa and far east. I will not be buying and selling products as its mainly consulting and advisory.

I was more worried about the address on website and business card is different from registered address (which is where I mainly work from). But I'm always meeting with clients in different places and sometimes I have to travel. so basically i dont need to have a physical office. Laptop and internet is fine for me

 

[Karimbo]

That's fine, vat fraud can still be done with b2b services. HMRC wont be too fussed about the website. Just inform them you are using a registered address service and inform them of your actual place of work.