This course covers:
· Why me? Why now?
o Various parameters that HMRC may apply (as published)
o What if the visit is unannounced?
· Establish your own platform for the day.
o When is convenient for you? How many officers? Timings
o Records to be made available to HMRC, and in what form.
o If on site visit, - think about suitable office/ personnel available etc.
o 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, incl.
o Arithmetical, mark ups and ‘life-style reconciliations etc
· Ensuring correct VAT compliance and completing internal VAT checks as a crucial on-going measure- well before the VAT visit.
o 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
o If a problem- is HMRC correct?
· Dispute resolution procedure.
· Penalties for errors- mitigation available?
· Appeals to the VAT Tribunal
o Appealable matters
o Costs.
