Surviving a VAT Inspection - A Guide for Business

Introduction

Businesses of all shapes and sizes may expect a VAT audit by HMRC at some point, but when, and why?

No matter how sure we are of correct, or even perfect VAT compliance, a visit by the authorities may cause some disruption to day-to-day business, and, perhaps, a degree of wariness.

Larger businesses will have their own Client Relationship Managers within HMRC… but even so.

Even though HMRC may not have found a VAT problem on their last visit, this cannot be relied upon as a ‘clean bill of health.’ Numerous VAT cases confirm HMRC’s position on this.

This new, interactive virtual classroom seminar will help put your mind at ease and offer useful guidance on what to expect, as well as best practice should your firm be audited.

This session is presented by VAT specialist Gwen Ryder who was once a visiting VAT Officer and has spent much of her career outside HMRC assisting clients undergoing inspections.

What You Will Learn

This live and interactive session will cover the following:

• Why me? Why now?
• Various parameters that HMRC may apply (as published)
• What if the visit is unannounced?
• Establish your own platform for the day
• When is convenient for you? How many officers? Timings, etc
• Records to be made available to HMRC, and in what form
• If on site visit, think about suitable office/personnel available, etc
• HMRC’s powers to inspect
• Best conduct on the day, and ‘reasonable refreshments’
• Likely checks that HMRC will make on the day, depending on the nature of, and size of, the business, including:
• Arithmetical, mark ups and ‘lifestyle’ reconciliations, etc
• Ensuring correct VAT compliance and completing internal VAT checks as a crucial on-going measure - well before the VAT visit
• All aspects - input tax, output tax, international supplies, partial exemption, and ‘non - business’ activities, main ‘slip up’ points
• Correct VAT return completion and what to do about ‘errors’
• Findings from the visit
• If a problem, is HMRC correct?
• Dispute resolution procedure
• Penalties for errors - mitigation available?
• Appeals to the VAT Tribunal
• Appealable matters
• Costs

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.