We discuss how changes in the value-added tax regime are altering many UK businesses’ approach to dealing with compliance, and considers the change in focus in a new landscape.
Businesses are increasingly focusing on their governance and ensuring robust processes and controls are in place. While it remains an aim, there is less emphasis on optimizing “what” amount of value-added tax is due/recoverable, and much more on “how” VAT compliance is dealt with and ensuring that the right amount of tax is paid at the right time.
Source Crowe
