VATARK provides advice to other professional advisers. This includes both accountants and solicitors.
How does this benefit you?
It will enable you to provide your client with an additional service. This service can be provided under your firm’s name or direct by vatark. You will benefit because your client does not look elsewhere for a service they require.
- Does your client know that this type of service exists?
- Are they aware that you could help them with their VAT difficulties?
My aim is to help you help your clients. This will help increase your turnover, and retain clients. I have set out below the types of service on offer that you can offer to your clients.
The services fall into three broad categories:
- Helping clients where the difficulty has already been identified.
- Helping you and your clients identify potential difficulties.
- Helping identify opportunities to arrange transactions to be tax efficient.
Helping clients where the difficulty has already been identified
VAT assessment review service
Provide a copy of the assessment, related correspondence with the VAT office, and the background information we request, and I will tell you:
- whether there are grounds to challenge the assessment;
- whether any penalties could be mitigated; and
- provide an indication of the chances of winning.
Reviewing H M Revenue & Customs rulings
Whilst a ruling may not have an immediate impact upon your client’s business, it could prove costly in the future.
- I will review any ruling your client receives from H M Revenue & Customs.
- I will advise on the implications of the ruling; and
- I will suggest the best way to deal with it.
Helping you and your clients to spot potential difficulties
VAT errors can lie undiscovered, and can replicate themselves. When H M Revenue & Customs eventually discover them, what may have been a small error has developed into a big one. Providing the information required by H M Revenue & Customs, so an assessment can be raised, adds to the administrative burdens of the business. It could also prove expensive, as not many businesses have the resources to assign staff to trawl through their accounting systems to find past errors, so they have to employ additional staff to cope with the demands of H M Revenue & Customs.
Undertake a review aimed at identifying errors and opportunities. I will provide your client with clear advice on how to minimise exposure to possible assessments and penalties.
- Advise on the VAT implications of any new or unusual transactions a client may be about to undertake.
- Advise on the impact of VAT accounting of any restructuring of a client’s business.
- Act as part of your due diligence team, reviewing VAT issues in an acquisition or merger.
Helping identify opportunities
This means looking into your client’s VAT affairs to determine whether they can be rearranged to make them more efficient. This may relate to:
- Property transactions
- Transactions made between group companies
- Maximising VAT recovery for clients who suffer a restriction on their input tax recovery.
- Improving VAT accounting procedures to reduce exposure to unnecessary interest and penalties.
If you would like more information on the services I offer, please contact me or call me on 01293 734545.