VAT Reviews

When we talk to clients about our VAT review services, they most often want to talk about reviewing their business from a VAT perspective in main 3 areas:

  • How to minimise VAT costs
  • How to maximise VAT efficiencies (savings)
  • How to reduce VAT risks in the highest risk areas

For businesses wanting to minimise VAT costs, this means we work to find ways to:

  • Reduce the VAT charged to customers (and then paid over to tax authorities)
  • Reduce the VAT being charged to the business by suppliers (especially irrecoverable VAT/foreign VAT buried in supply chains)
  • Reduce the time and resources spent on meeting VAT compliance obligations such as submitting statutory filings

For businesses wanting to maximise savings through VAT efficiencies, we investigate the business as a whole to give you the best strategy through:

  • Review of the VAT treatment of both buying and selling throughout the entire supply chain
  • Review of shipping, logistics and distribution of products to customers for inefficiencies and unnecessary in-built VAT costs
  • Review of website pricing, advertisement and delivery method of e-services to end customers to suggest simplifications in VAT reporting and accounting arrangements

For businesses wanting to reduce VAT risks and take stock of their VAT position, we assess high risk areas such as:

  • VAT accounting and reporting of international transactions (both buying and selling)
  • Movement of own goods, self-billing and inter-company transactions
  • Internal controls and checks in the VAT Return preparation process

Each VAT review we undertake is bespoke to your business: we tailor our advice and how our review action points are delivered around the needs of each individual business.

With our vast international VAT experience, we have reviewed businesses of all sizes in widely varied sectors in all (and many more) of the following areas:

  • Acquisition VAT self-assessment on foreign purchases and movements of goods
  • Customer/distributor contract reviews
  • Customs Duty
  • EC Sales List and Intrastat declarations
  • EU VAT reporting requirements
  • EU VAT registrations
  • Import VAT
  • Importing strategy
  • Intercompany billing
  • Invoice template reviews
  • Invoicing scenarios
  • Logistics and distribution strategy
  • Reverse charge VAT self-assessment on services supplied to you from overseas
  • Reviewing tax authority rulings and assessments
  • VAT recovery
  • VAT rate classification for goods and services supplied
  • VAT treatment of sales to customers