Andy Gott (RSM) answers a query concerning what HMRC focuses on when inspecting a post-accident management business.
Question
I’ve recently joined a post-accident management business as FD. I understand that HMRC has been focusing on the sector recently particularly in relation to the exemption for claims handling. However I have some concerns about some of our VAT accounting processes and the documentation we issue and receive. Aside from considering whether the exemption is applicable what does HMRC focus on when inspecting a business like ours?
Answer
HMRC has recently been targeting a wide range of businesses offering insurance claims handling services and this is expected to continue.
Businesses in the sector will typically be involved in providing a number of services connected with a claim...
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Andy Gott (RSM) answers a query concerning what HMRC focuses on when inspecting a post-accident management business.
Question
I’ve recently joined a post-accident management business as FD. I understand that HMRC has been focusing on the sector recently particularly in relation to the exemption for claims handling. However I have some concerns about some of our VAT accounting processes and the documentation we issue and receive. Aside from considering whether the exemption is applicable what does HMRC focus on when inspecting a business like ours?
Answer
HMRC has recently been targeting a wide range of businesses offering insurance claims handling services and this is expected to continue.
Businesses in the sector will typically be involved in providing a number of services connected with a claim...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
