VAT RISK EVALUATION

VAT is not getting any easier, in fact, VAT compliance is becoming ever more prescriptive and technical with Making Tax Digital for VAT and increasing HMRC resources devoted to addressing the tax gap for VAT.

What’s more, all errors or mistakes are potentially liable for penalties – even where the taxpayer finds the error and notifies it to HMRC – unless it can be demonstrated that the business has exercised ‘reasonable care’.

VAT risk evaluation tool

The Xeinadin VAT risk evaluation tool focuses on your approach to managing VAT risk, rather than merely being a series of questions asking what you do.

It is a deep dive into all areas of your VAT return, it asks how long the current employee who completes the return has been doing this job, and whether there are documented procedures in place for VAT return collation, giving you confidence that no VAT stone has been left unturned.

VAT resource​
VAT Risk Evaluation Tool

Output that matters

The output is a report that identifies where risks lie and what can be done to better manage and address those risks, giving you peace of mind that every area of your VAT compliance management has been considered and that risks have clearly been minimised with ‘reasonable care’. You can take comfort that your risk of penalties is substantially reduced.

Detailed insights specific to you

The report is specific to you, with detailed insights on all areas of your VAT return with commentary, plus it provides documentary evidence of your ‘reasonable care’.

This is important to help you challenge any potential penalty assessments from HMRC, which starts in the region of 30% of the tax error – demonstrating that you have taken reasonable care. This in turn, could lead to a penalty being halved or, in some cases, removed.

We will also support you with any follow-up assistance should you need it.

VAT Risk Evaluation Tool
VAT Risk Evaluation Tool

Our VAT risk evaluation tool covers:

  • VAT registration structures
  • Reporting systems and procedures
  • Business disposals and acquisitions
  • Collaborations with other parties
  • Compliance history
  • Supply – where, when, VAT liability
  • Expenditure – entitlement to reclaim VAT and evidence
  • International trade
  • Land and property
  • Not-for-profit entities including educational institutions
  • VAT partial exemption and non-business activities
  • Management of VAT by the business

Our VAT specialists

Liz Maher OBE

VAT PartnerCardiff
Louise Gray

Louise Gray

VAT Director
Andrea Brindley

Andrea Brindley

VAT Director

Start managing your VAT risk today

Complete the form below to enquire about our VAT Risk Evaluation Tool and our VAT experts will be in touch.

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