Three years of errors corrected: rescued from a negligent accountant

Hospitality ownerNegligent accountant put right

Tax · VAT correction

€21,000Remaining debt
€17,000Reduced
AccountsIn order

Initial situation: three years of incorrect VAT returns uncovered

A Belgian hospitality entrepreneur received a reminder from the VAT authorities. For three years, his trusted accountant had filed the VAT returns incorrectly: mixed VAT deduction miscalculated, the hospitality restrictions ignored and the annual revision never carried out. The debt stood at €38,000 in VAT and interest.

€38,000Debt
3 years of errorsPeriod
Revision never doneAccounting status

Approach: the file taken over completely

Step 1
Accounts reconstructed: three years of bookkeeping rebuilt from invoices and bank statements.
Step 2
Returns corrected: corrected VAT returns filed.
Step 3
Negotiated: a payment plan and a partial waiver of interest agreed.
Step 4
Put in order: the accounts brought fully up to date.

Outcome: debt reduced from €38,000 to €21,000

The debt was reduced from €38,000 to €21,000, mostly interest and surcharges. The accounts are now fully in order and the entrepreneur has had no administrative problems since.