- HMRC released Guidelines for Compliance for VAT accounting and compliance processes
- Aim is to help businesses establish tax control framework and minimize errors
- Recommendations include documented VAT compliance, risk management, and collaboration
- Guidelines cover sales processes, purchase processes, employee expenses, and more
- Businesses can improve VAT practices and reduce compliance issues by following guidelines
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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