The issue

Serious financial difficulties can be avoided by constantly monitoring the VAT accounting processes within a business. Business growth or key staff turnover can lead to accurate tax accounting lagging behind business procedures.

Timely, proactive and professional support helps minimize the administrative burden on a business, maximize the sums recovered and helps to ensure there are no unwelcome surprises.

Action required

Our compliance reviews can identify issues before they become problematical and avoid serious repercussions from HM Revenue & Customs in terms of assessments and penalties.

These targeted reviews often identify savings through the application of appropriate VAT accounting measures.

Whether a high level or in depth review exercise, our team can provide businesses with comfort and assurance that VAT processes are functioning properly.

Example

A compliance review for one business revealed money savings by operating one of the special VAT schemes available. We reduced the business’s VAT bill by a third each quarter by implementing the scheme and adjusting their record keeping systems accordingly.