Best Accountants in Gainsborough

When To Instruct Us. The most common question we get asked is "When should we instruct you?" The simple answer to this is as soon as possible. While the process of reclaiming VAT is seen as the very last step in your self build there are benefits to employing us as soon as possible. Not only can we give continued help and advice throughout your self build we can also highlight any issues with incorrectly charged VAT, which can prove costly should you wait until the completion of your self build. I'm going to expand on the point about incorrectly charged VAT. If you instruct us to act from the beginning of your self build and regularly send us your invoices we can sort them out and notify you of any incorrectly charged VAT. This enables you to contact the relevant companies/contractors and raise the error with them and request a credit and refund for the incorrectly charged VAT. If you instruct us at the end of your build then we will still flag up any invoices with incorrect VAT, however, you may find it a lot harder to get the companies/contractors to credit and refund you the VAT, especially if they have already submitted their VAT return and paid the VAT to HMRC. This can lead to £1000's being lost in incorrectly charged VAT. You will not be able to reclaim any incorrectly charged VAT back from HMRC through the DIY Housebuilders Scheme. Remember, it's never too early to instruct us!!!!