VAT Data Released to BIPA Members
BIPA members have been working closely with HMRC in order to obtain non financial VAT Data for the use in trade credit scoring. In March 2018 a number of BIPA members were successful in their applications to receive this data from the HMRC.
VAT registration data is economically valuable because it offers the only comprehensive database of UK businesses registered for VAT. It includes identifying data on larger unincorporated businesses, which is not readily or comprehensively available from other sources. Matching VAT registration data with other information sources (eg, Companies House, customer, court or bank data) would increase the amount and improve the accuracy of this data. This is likely to improve the quality of business-related services such as credit evaluation, compliance with anti-money laundering requirements and anti-fraud checking. Potential users include credit reference agencies, banks and other financial services providers