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6th May 2008
Atlantic Umbrella has successful VAT inspection
Towards the end of last year Atlantic Umbrella invited HMRC to our offices to carry out a thorough Expenses Compliance Audit.
Having passed that audit with flying colours our Expense’s Dispensation not only remains available to all our contract workers, but the daily allowance amounts were actually increased to reflect current expenditure levels.
To further under line that confirmed compliance we are delighted to report that Atlantic Umbrella has also recently undergone a similarly successful VAT inspection.
We at Atlantic Umbrella are aware of rumours within the industry suggesting that The Treasury have been using a “VAT Inspection” as a means of conducting a compliance-based audit on an umbrella companies currently operating in the UK.
“There is no doubt about it, the VAT office now know what Umbrella’s are about and my recent experiences tell me that they know exactly what to ask and where to look.” said Financial Director, Rudy Scheinost.
“We have always conducted our operations in a perfectly legitimate way and this audit is yet another “feather in our cap”. In today’s climate, it is all about compliance - in the last four months we have had three audits (HMRC, AEMC, and now Customs & Excise). We have passed all three.” Rudy went onto say.
Amongst other things the thorough inspection re-confirmed the compliance and legality of our employment contract which underpins the means by which contractors are able to claim tax relief against expenses.
Atlantic Umbrella continue to offer contractors one of the most competitive and HMRC-compliant solutions in the industry; backed up as always with first class customer service.
Having passed that audit with flying colours our Expense’s Dispensation not only remains available to all our contract workers, but the daily allowance amounts were actually increased to reflect current expenditure levels.
To further under line that confirmed compliance we are delighted to report that Atlantic Umbrella has also recently undergone a similarly successful VAT inspection.
We at Atlantic Umbrella are aware of rumours within the industry suggesting that The Treasury have been using a “VAT Inspection” as a means of conducting a compliance-based audit on an umbrella companies currently operating in the UK.
“There is no doubt about it, the VAT office now know what Umbrella’s are about and my recent experiences tell me that they know exactly what to ask and where to look.” said Financial Director, Rudy Scheinost.
“We have always conducted our operations in a perfectly legitimate way and this audit is yet another “feather in our cap”. In today’s climate, it is all about compliance - in the last four months we have had three audits (HMRC, AEMC, and now Customs & Excise). We have passed all three.” Rudy went onto say.
Amongst other things the thorough inspection re-confirmed the compliance and legality of our employment contract which underpins the means by which contractors are able to claim tax relief against expenses.
Atlantic Umbrella continue to offer contractors one of the most competitive and HMRC-compliant solutions in the industry; backed up as always with first class customer service.
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