VAT Risks

There are a multitude of VAT & Indirect Tax risks for all businesses and institutions.

There are a multitude of VAT & Indirect Tax risks for all businesses and institutions. You trust your accounting software to produce the right numbers for your VAT return? But remember, the software is only as good as the data going into it. That data could be incorrect for a variety of reasons - supplier errors, inputting errors, lack of awareness of staff of the technicalities of VAT, “special” items, lack of clear procedures - the list is endless.

ITSL can help you. We can provide

Independant specialist reports, such as VAT return preparation report, AP VAT management report, indirect tax function report.
An AP data review, to identify missed recovery opportunities.
A review of any cross border supplies to ensure correct VAT accounting.
A review and walk-through of the existing VAT compliance processes, for disaster recovery and HMRC assurance/Senior Accounting Officer purposes.
A review of any partial exemption/bespoke scheme input VAT recovery methodologies.
Assistance in appealing against HMRC VAT assessments and dealing with HMRC queries/correspondence.

See the attached case studies for details of how we've helped other companies who thought their systems were functioning properly.
Alternatively, contact ITSL for a free initial discussion.