The effects of Brexit and supply chain delays have had an impact on British businesses in many ways. One of these is the incorrect claiming of VAT on goods being imported or exported, which can lead to cash flow problems, unwelcome fees and potentially even an audit by HMRC.<\/p>\n\n\n\n
We\u2019ve recently helped a new client who had accidentally overclaimed VAT on exports and imports, which had hit their cash flow very hard indeed. Multiple errors needed to be rectified and the company\u2019s tax required reanalysis to ensure that it wouldn\u2019t get in trouble with the taxman. Neglecting even the most innocent of mistakes can lead to time-consuming, disruptive and costly repercussions for a business, so our client made the right decision by getting in touch with our tax and VAT specialists right away.<\/p>\n\n\n\n