---
title: Wholesale Clearance UK Ltd V HMRC [2016]
description: When preparing your annual accounts, consider professional negligence.
image: https://www.forensicanddispute.co.uk/hubfs/preparing-annual-accounts.jpeg
---

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# Wholesale Clearance UK Ltd V HMRC [2016]

[ Jeffrey AC Meek ](https://www.forensicanddispute.co.uk/blog/author/jeffrey-ac-meek)

 06-Sep-2021 15:56:33

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### Wholesale Clearance UK Ltd V HMRC [2016] UKFTT A Company’s Failure To Reconcile Its VAT To Its Turnover Resulted In A £17k VAT Bill

A basic aspect of preparing annual accounts is to reconcile turnover to VAT returns and seek reasons for any material differences not to do could cost you dear and whilst you may think about Professional negligence claim that will only cover consequences such as interest and personalities rather than actual VAT due.

[HMRC](https://www.forensicanddispute.co.uk/blog/tag/hmrc)

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