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.
Our VAT Consultancy Specialist
Jane Deeks provides VAT advice on all areas of VAT. She specialises in VAT Consultancy and Planning. She started her career as a trainee tax advisor specialising in VAT, with PwC in 1999. She then became a Chartered Tax Adviser, then went onto starting Deeks VAT Consultancy Limited in 2018.Visit Jane’s Profile
Latest news & insightsView all news & insights
Deeks VAT News issue 39
Welcome to this months Newsletter December 2023 issue 39 Keeping you up to date on VAT changes In this months newsletter we cover the following: Changes to the DIY Housebuilders’ Scheme Best Judgement: what is it, and why is it important? Updated guidance on zero-rated exports New rules for registration and reporting in the EU […]
Deeks VAT News Issue 30
Welcome to the latest edition of Deeks VAT News. January 2023 – Issue 30 Keeping you up to date on VAT changes In this edition of the months newsletter we cover the following: Insurance partial exemption Doctors and healthcare professionals So what does VAT registration mean? Discounts – value of supply. The TalkTalk case. […]
Changes to the VAT DIY Housebuilders Scheme
Embarking on self-build projects can yield significant VAT savings through the DIY Housebuilders scheme. With the spring Budget 2023’s announcement, the scheme is set to digitize, extending claim periods from three to six months starting 5 December 2023. Understand what qualifies for VAT reclaim and how these changes can benefit your project. For any queries, reach out to Jane at Deeks VAT.
Want to find out how we can help?
Here at Deeks VAT Consultancy we can help all types of businesses, either personally or acting on your behalf for your clients. Drop us a message and one of our specialists will be in touch to discuss how we can help.
Jane: +44 (0) 7710 553831
Complete the following form and we will be in touch as soon as we can