VAT Compliance | KPMG | IM

VAT Compliance

VAT Compliance

KPMG can help reduce your VAT compliance risk or mitigate unnecessary VAT loss through structuring.

KPMG can help reduce your VAT compliance risk or mitigate unnecessary VAT loss through...

VAT can represent a key factor in a business’s cash flow and potentially a real bottom line cost. For finance and tax directors, managing VAT risk and its cash flow implications can be a significant challenge which is often compounded by constantly evolving case law, Statute and HMRC guidance. Poor compliance and errors can result in penalties, damaged reputation and/or missed opportunities. Whether you are looking to reduce your VAT compliance risk or mitigate unnecessary VAT loss through structuring KPMG have the technical insight and skills to assist.

How we can help

We provide the following VAT compliance services:

  • VAT registration – completion of the required documentation to register (or de-register) your business, company, partnership or group for VAT. 
  • Completion of VAT returns – completion of monthly or quarterly VAT returns (based on information provided by you) and submission of those VAT returns to HM Revenue & Customs/ Isle of Man Customs & Excise. 
  • Completion of other documentary requirements – completion and submission of any other documentation required by HM Revenue & Customs/ Isle of Man Customs & Excise such as the land and property questionnaire, option to tax, transfer of a going concern and voluntary disclosure. 
  • Dealing with routine enquiries – responding to routine enquiries raised by HM Revenue & Customs or Isle of Man Customs & Excise. 
  • VAT inspections – we can assist in handling VAT inspections performed by HM Revenue & Customs/ Isle of Man Customs & Excise.
  • Completion of EC Sales Lists completion of monthly or quarterly EC Sales Lists (based on information provided by you) and submission to Isle of Man Customs & Excise/HMRC. 
  • VAT audit-we can perform a VAT audit on your business if you require assurance or are expecting a visit from HMRC or Customs and Excise.

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