Vat Assurance

How do you make sure you get your VAT returns right?

Most people press the relevant button on the software they use and take the numbers given. These days that's not good enough in itself to show you've exercised appropriate due care.

If you are an education provider, charity, financial services company, local authority or college, you recognise the issues. But even if you are an estate agent, a retailer, a caterer, transport company or get involved with international goods or services, special rules affect the way you should report and account for VAT.

ITSL can help you. We can provide

Reviews of VAT liability of current (and prospective if applicable) income streams.
Reviews of any cross border supplies to ensure correct VAT accounting.
Reviews of the VAT bad debt reporting, supplier rebates, commissions, discounts offered, taken and received.
Reviews to ensure the correct amount of VAT has been recovered (in the correct VAT registration if relevant), including reviewing expenses where no VAT has been recorded to establish if further recoveries are possible.
Reviews of the VAT accounting relating to land and property transactions. This is an area where transaction values can be significant and there are specialist and highly detailed rules.
Recommendations for amending processes to provide greater assurance of relevant VAT management.

Recognise you need help?

Please see our case studies of real help we have provided to a variety of businesses. Then contact ITSL for a free initial discussion.