VAT Audit Services
VAT Audit services in UKhas found its way in the world of business communities across UK since VAT inception on January 1st 2018. According to Federal Tax Authority (FTA) a tax year comprises of 12 months’ period including tax returns either quarterly or monthly as stated at the time of registration.
Several VAT consultancy services in UUK are providing services to the businesses since VAT inception. Non-compliance of VAT law or any discrepancy found in calculation of VAT or its filing due to lack of awareness or proper knowledge can lead to heavy penalties and fines as stipulated by FTA.
To address this issue, apart from providing VAT services in UK, we also provide VAT audit services in UK and other emirates. We propose a thorough check of VAT records through VAT audit.
VAT audit is the process in which the tax audit consultancy reviews the tax report of a business to check all the procedures and report are done as per the FTA in UK. The VAT audit report identifies the discrepancies and make business ready to face the tax audit by the authority. Tax agent reviews compliance documents, systems & procedures of business as per the law. It makes sure that there is no double payment of VAT from business end and thus avoid undercharging or overcharging to consumers.
Our Tax consultant in UK provide full time support and guidance in terms of VAT tax. Our VAT audit services in UK are termed as timely and accurate by our existing clients. Also we are cost effective and comply to International standards for our process and methods of conducting VAT audit services.
Research beyond the business plan
We understand that certain problems are faced by organisation in era of VAT which will entertain certain penalties and fines. These common problems are-
- Error in making Invoice or Accounting the impact of VAT
- Error in taking Input Tax Credit of VAT which you have already paid
- Error in paying VAT or Non Levy of VAT
- Failure to keep proper records
- Failure to make designated zone (Free Zone) compliance’s
- Missed any deadline (i.e. Application for preregistration, return filling dates)
- Reconciliation with Custom Records
- Amendment of Business records
To address above problems we at Horizon Biz Consultancy provide 360 Degree 100% Check for all business transactions by undergoing VAT services in UK. With our VAT Auditing services in Dubai, we verify the accuracy and correctness of VAT Returns generated from the financial department of the business. Our VAT audit also ensures that if the business is in full compliance with UK VAT law, and pay taxes time to time.