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Perhaps you've received notice of a VAT inspection and you're in panic mode? Or maybe your records and systems are not what they might be? ASE have the in-depth knowledge of the specialist VAT issues facing you right now. VAT within the motor trade is a notoriously difficult area for non-specialists to deal with. Factor in HMRC's increased focus on inspection visits and VAT becomes a high risk and potentially costly factor in your business.
We understand the motor trade and the way HMRC approaches their visits in this sector. Our goal is to assist you in your compliance obligations no matter where you are in the HMRC cycle.
HMRC commenced a VAT review on a dealer shortly after ASE had been engaged as auditors. By running a suite of ad hoc reports on Kerridge, they quickly identified a number of issues on zero rating of disabled sales, finance deposit manipulation (bumping) and zero rating of export sales. Acting as their newly appointed advisors, we were able to negotiate the final assessment down from the original proposal of £400k plus interest and penalties, to just over £200k. Subsequent to the HMRC review we assisted with the implementation of new policies and procedures to prevent similar issues happening again.