VAT can represent a key factor in a business’s cash flow and potentially a real bottom line cost. For finance and tax directors, managing VAT risk and its cash flow implications can be a significant challenge which is often compounded by constantly evolving case law, legislation and tax authority guidance. Poor compliance and errors can result in penalties, damaged reputation and/or missed opportunities.
We provide the following VAT compliance services:
- VAT registration – completion of the required documentation to register (or de-register) your business, company, partnership or group for VAT.
- Completion of VAT returns – completion of monthly or quarterly VAT returns (based on information provided by you) and submission of those VAT returns to HM Revenue & Customs/ Isle of Man Customs & Excise.
- Completion of other documentary requirements – completion and submission of any other documentation required by HM Revenue & Customs/ Isle of Man Customs & Excise such as the land and property questionnaire, option to tax, transfer of a going concern and voluntary disclosure.
- Dealing with routine enquiries – responding to routine enquiries raised by HM Revenue & Customs or Isle of Man Customs & Excise.
- VAT inspections – we can assist in handling VAT inspections performed by HM Revenue & Customs/ Isle of Man Customs & Excise.
- VAT audit - we can perform a VAT audit on your business if you require assurance or are expecting a visit from HMRC or Customs and Excise.