Financial service group undertake a VAT health check

Case Study12th Aug 2020

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The Outcome

Identified one business using an unapproved partial exemption special method which resulted in an excessive VAT restriction

Submitted an error correction notification to HMRC recalculating the VAT recovery using the standard method

Identified another business was using an incorrect VAT treatment. Then submitted an application for a non-statutory clearance to HMRC

Secured additional recoveries doubling the previous residual recovery

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