A focused VAT health check
We review VAT control accounts to determine whether output tax has been declared correctly and eligible input tax has been claimed appropriately.
Our review process
- Review VAT control accounts and supporting records
- Compare sales reported in VAT returns with accounting records
- Investigate material variances
- Check the correctness and timeliness of declarations
- Compute identified outstanding tax and potential penalties
Clear reporting
At the end of the review, we document the findings, explain the implications and recommend practical steps to resolve identified matters.
When a review is useful
A VAT review can support routine compliance, preparation for an external review, resolution of persistent control-account differences or improved coordination between finance and tax reporting.