Compliance
Meridian VAT compliance services provide the knowledge, skills and practical support your business needs in managing the complexities and associated risks when registering for VAT and managing VAT compliance/reporting obligations in multiple jurisdictions.
Businesses face overwhelming challenges when dealing with country specific reporting requirements and regulations.
Compliance Services
Our compliance team will ensure that your business, despite constant changes, remains VAT compliant.
With over 30 years of experience in VAT , our Compliance team has gained practical knowledge that enables your business to stay compliant across multiple jurisdictions, reducing the risk of penalties and audits.
End to end VAT compliance process
Core elements of Meridian VAT compliance services are as follows:
- End to end VAT compliance
- Registration & Implementation
- Deadline Management
- Legislative changes
- Intrastats
- Automated VAT declarations
- Preparation of declarations
- VAT declarations submission
- Digital filling
- Real Time reporting
- VAT Authorities communication
The VAT compliance process and how Meridian can help
1. Registration & Implementation
We assist our clients in determining in which countries they need to be VAT registered and guide them through the process of obtaining a VAT number (incl.uding fiscal representation where required). We provide up-to-date reporting requirements and assist with any challenges that businesses may encounter in obtaining the mandatory data specific to each country
2. Deadline Management
Our clients have an assigned account manager who will inform of upcoming deadlines and monitor the status of each declaration daily. Our main aim is to protect these deadlines, and as such, we provide practical solutions to overcome any difficulties our clients may encounter, minimizing the risk of penalties and interest. We maintain accurate payment instructions that allow payments to be arranged within the statutory deadlines and in accordance with specific country requirements.
3. Automated VAT declaration preparation
Our compliance team can work with reports from any ERP/accounting system and we will analyse your data to set up automatic declaration preparation. Our automated solution has been customised to meet specific country and declaration. requirements, ensuring the accuracy of your data before submitting any required declarations. We perform automated reconciliations of values between declarations prior to filing.
4. VAT declarations submission, Digital filling and Real Time reporting
We submit all VAT declarations through the various mechanisms required by tax authorities in the relevant jurisdictions. We have developed software that is fully compliant with UK MTD filing requirements. Meridian also supports filing of SII in Spain, JPK in Poland, and periodic SAF-T in all countries where it has been introduced. We have implemented upload filing in countries that facilitate this option. We are constantly monitoring changes with respect to changes in reporting/new reporting obligations to address any challenges businesses may face.
5. Intrastats
Due to the significant challenges with the filing of Intrastat declarations, ( tight deadlines, failed filings due to incomplete data or invalid formats) and large volumes of data, we have developed an automated solution which validates commodity codes and country-specific requirements to ensure correct and timely submission.
6. VAT authorities communication
Due to our process of our automated checks and reconciliations, we minimise the level of queries for our clients. In the case of questions raised by authorities, our experienced, multilingual teams handle and resolves such issues with the Tax Authorities across various jurisdictions.
7. Legislative changes
As VAT legislation is ever evolving and changing at a fast pace, we are constantly monitoring and analysing changes daily to keep our clients up to date with the latest regulations that are relevant to their business.
Our Strengths
Surrounded by smart, passionate people and with the best tools and approaches at your disposal
HM Revenue & Customs
“Find software for Making Tax Digital for VAT”
Meridian MTD software is built into a managed VAT compliance service offering whereby we offer our services to clients including submission of their VAT returns to HMRC using our bespoke VAT Compliance application.
Meridian MTD software is recognized by HMRC.