Leeds based
accountancy firm Harvey Edwards LLP has created a new service offering businesses
an opportunity to claim back VAT from the HMRC.
Marlon Appleton, a
partner and VAT specialist in the firm commented that: “we know cash is tight
in the current economic environment and realised from our experience that many
businesses were inadvertently overpaying VAT”. This comes from potentially
years of small human errors, with employees not fully understanding what is
required by legislation and employers not having the resources to identify
every error made in processing transactions.
FileDoc Ltd, a
newly established supplier of multifunctional photocopiers, printers and
related consumables is the latest beneficiary of this service that has led to
improving cash flow to the start-up business.
Godfrey Gabriel Managing Director of FileDoc Ltd said
“the professional service that I experienced with Harvey Edwards did not just
help to improve my immediate finances and recover 75% of my VAT liability from
just a few invoice;, but also allowed me to put in measures to prevent it from
happening again”.
For the 2011-12 tax year HMRC collected £99.6 Billion
in VAT. Some of that belongs to you. We therefore encourage businesses to
actively seek help in order to recover valued cash that they are due and need.
Research has shown
that companies on average under recover VAT by 30% resulting in net outflow of
cash.
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