VAT Health Checks

Choose us for VAT Health Checks

VAT health checks take a proactive approach to reviewing your VAT procedures. Regular health checks ensure that your VAT accounting system is always up to date and compliant with current legislation, giving you peace of mind and reassurance that you’re on track. When the HMRC inspectors arrive, you’ll be confident that your VAT is all correctly accounted for.

Our VAT health check will consider the VAT implications of:

• Structure of the business.
• Income streams to determine whether all your products or services should carry VAT.
• Purchases to determine whether all your suppliers should charge you VAT.
• Consider if your business uses all available HMRC dispensations.
• Approach to VAT recovery to determine if all the VAT your business incurs is reclaimable.
• Consider if your business is due a repayment.
• Partial exemption method reviews to discover if an application of de-minimis provisions and annual calculations are necessary.
• A full appraisal of the business’ processes and procedures to ensure that it is acceptable to pay the least amount of VAT and as late as possible.
• Evaluate whether the business is required to submit an error correction due to any VAT error made to reduce any level of penalty. A VAT health check is evidence that a business is taking ‘reasonable care’ in relation to VAT compliance, which in turn could lead to mitigation of penalties.

A VAT health check requires that we fully understand the activities carried out by your business. It is possible to perform remote VAT health checks or an on site VAT health check.

At the end of the process, a detailed report is produced highlighting areas of concern and potential opportunities for VAT savings. Although this review is not a full audit of the VAT records of a business it provides a detailed overview of risk areas that can then be further examined as necessary and used to develop a sensible strategy for tackling any issues.