Discover how you can reap the benefits while reducing the risks of Partial Exemption Special Method.
Partial Exemption Special Method (PESM) is notoriously complex. Any business using this method must consistently justify it to HMRC by outlining the criteria it wishes to utilise and why this represents a fairer and more accurate way of calculating recoverable input VAT. It then also needs to demonstrate its compliance with that agreed method.
Such complexity requires clear guidance. This latest research from Tax Systems demonstrates how you can gain total control and visibility over the PESM compliance process, which is not without its challenges, or its risks – in the event the business gets it wrong, it can trigger an investigation by HMRC.
In this whitepaper, Tax Systems explores how organisations could benefit from PESM process automation, investigates the changing regulatory landscape, and demonstrates the need to mitigate the risk of non-compliance. The report also displays the strengths and weaknesses of existing technologies and how systems are now evolving and improving. Plus, you can explore the experiences of organisations in different sectors that have been able to simplify the process, deriving efficiency and accuracy gains.
Download your complimentary copy today.