VATplus – Annual re-reviews

Specialist VAT re-reviews that check what your first-line advisors may have missed.

Every year, we complete 40-50
re-reviews for clients of VAT work
by other firms.

Those firms include Big Four accountancy practices. In every case so far, we’ve found further opportunities for legitimate VAT recovery – it amounts to more than £17m in the last six years alone. Every review has also uncovered compliance errors that are putting the trust or board concerned both at risk of penalties and of losing credibility with HMRC.

Other advisors’ errors

Errors include applying out of date rulings, failing to check key areas such as acquisition tax and EU tax, and not spotting compliance issues due to inexperience and lack of specialist knowledge.

In our first six years of providing VATplus annual reviews, we identified a total of £17m in underclaimed VAT. Of this, £1.5 million belonged to just one trust – a trust that had been using a Big Four firm as their regular VAT reviewer.

We have also found that other advisors had missed £7m in overclaims and compliance errors, a huge amount that could have led to total fines and penalties of between £600,00 and £1.2m.

Altogether, we identified enough missing cash to:

           Pay to train 182 nurses

        Provide 2,821 hernia operations

               Deliver 1,824 babies

If we hadn’t checked, that money would have been lost to the health service for good. And our findings show our competitors are getting worse, not better. It’s hard enough to meet budgets – so why would you want to let HMRC keep money you desperately need for frontline services?

How VATplus works

We review any work done by other advisors, ideally in good time before your final VAT return deadline.

You receive a full report identifying the opportunities to recover cash and outline underpayments, plus  other compliance issues.

We agree the recovery and any other actions with you.

We liaise with HMRC on your behalf.

We help you make the relevant adjustments to your final VAT return so you get any money due to you back promptly.

If your current advisors’ work is sound and there’s no more cash to find, you pay us absolutely nothing.

Packaged service bundles: combine your VATplus with
our other cash generating reviews

REassure

We take a fresh look at your VAT and your supplier invoices and statements. This second pair of eyes means the right safeguards are in place to maximise recoveries, compliance, and value for money.

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