Our review is tailored to your business but typically includes:

VAT Return Review

We examine recent VAT returns to assess:

  • Accuracy and completeness
  • Consistency of reporting
  • Unusual transactions
  • Potential anomalies or risk indicators

Transaction Testing

We review a sample of transactions to ensure the correct VAT treatment has been applied, including:

  • Sales invoices
  • Purchases
  • Imports and exports
  • Intra-EU transactions where applicable
  • Capital expenditure
  • Special VAT schemes

VAT Accounting Processes

We assess the systems and procedures used to prepare VAT returns, including:

  • Internal controls
  • Record keeping practices
  • Accounting software processes
  • Document retention procedures

Risk Assessment

We identify areas which may create exposure to:

  • Underpaid VAT
  • Overclaimed input tax
  • Technical VAT errors
  • Compliance weaknesses
  • HMRC enquiries and assessments

Recommendations Report

Following the review, we provide:

  • A summary of findings
  • Identified risks and issues
  • Practical recommendations
  • Suggested corrective actions
  • Guidance on strengthening VAT controls

To discuss a review, please get in touch with Colin Laidlaw, an experienced VAT specialist who spent many years working for HMRC.