A pro-active VAT review can provide comfort and reassurance to a business that it is paying output VAT at the right time, and is recovering the appropriate amount of input VAT on expenditure. Why wait until a VAT inspection is announced before wondering if you’ve got this right?

We are happy to review your VAT accounting systems and records to identify any areas of weakness with your VAT accounting practices; this will highlight transactions that may have been treated incorrectly, or areas where you could possibly save VAT. Ultimately the aim of a health check is to identify VAT problems and correct them before they become a costly problem, along with keeping the risk of penalties from HMRC at a minimum.

Lynn begins her VAT healthcheck by obtaining background information and usually reviews the VAT returns over the last year. This will be followed by a face to face meeting (or as may be the case these days, a Zoom or Teams call) with you and/or your bookkeeper; this allows Lynn to fully understand the activities carried out by your business.

Whilst a VAT healthcheck is not a full audit of the VAT records, at the end of the process, a detailed report is produced highlighting areas of concern and potential opportunities for VAT savings.

We pride ourselves on producing straightforward, easy to understand and constructive advice. Any additional work required as a result of the review can be discussed and a quotation provided.