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VAT

An independent review of your VAT position, or a target company’s, that finds exposures before the FTA or a buyer does.

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What’s included
9 deliverables
4 step process
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Magnifying glass over invoices beside a laptop spreadsheet
VAT

A VAT health check is a structured review of your returns, records and processes, carried out the way an FTA auditor would approach them. For investors and buyers, VAT due diligence does the same for a target business, so hidden liabilities are priced into the deal. Either way, you get a clear report of what is right, what is at risk and what to fix first.

Return-to-ledger reconciliations for selected periods
Sample testing of sales and purchase invoices
Review of zero-rating, exemptions and reverse charge
Input tax recovery and blocked-expense review
Tax invoice and credit note compliance checks
Record-keeping and system controls assessment
Pre-acquisition and investor VAT due diligence
Exposure quantification with penalty estimates
Prioritised remediation plan

01

Find issues first

Discover errors while you can still correct them on your own terms.

02

Know your exposure

Every risk is quantified, so you can plan and budget.

03

Better deals

Buyers and investors negotiate with full knowledge of VAT liabilities.

04

Audit confidence

Walk into an FTA audit knowing your records will hold up.

In-depth guide

01What we examine

We start by reconciling filed returns to your general ledger, then test samples of high-risk transactions: exports, related-party charges, imports, credit notes and large purchases.

We also look at how your system assigns tax codes and who reviews returns before they are filed, because weak controls are often the real cause of errors.

02VAT due diligence for transactions

When you buy a business or its assets, unpaid VAT and pending FTA issues can become your problem. Due diligence brings these risks into the open before signing.

We work to your deal timetable and report in a format your legal and finance advisers can use for warranties, indemnities and price adjustments.

03A report you can act on

Our findings are ranked by financial impact and urgency, with practical steps for each item.

If you choose, we then carry out the corrections, from voluntary disclosures to bookkeeping clean-up.

  1. 1

    Scope

    We agree periods, entities and focus areas.

  2. 2

    Test

    We reconcile returns and sample transactions.

  3. 3

    Report

    You receive findings, exposures and recommendations.

  4. 4

    Remediate

    We help correct errors and strengthen controls.

Once a year is a good rhythm for most businesses, and also before a refund claim, after a system change, or when you change accountants.

VAT

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Ready for books you can rely on?

Book a free 30-minute consultation. We’ll review your current setup and show you exactly what we’d do.

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