VAT Reviews

A tailored VAT review to suit the needs of your business can be an invaluable tool.

Accordance offers a number of tailored VAT reviews which encompass VAT Compliance and Savings Reviews, transaction matrices, ERP coding reviews, shared service centre reviews and many more.

VAT Compliance and Savings Reviews

A VAT Compliance and Savings Review can help ensure you meet all of your compliance obligations in order to minimise the risk of fines and penalties while also looking to generate savings and identify opportunities to improve cash-flow. It will ensure that you do not create VAT issues for your customers which can adversely affect your commercial relationship.

Our approach to carrying out VAT reviews is flexible and targeted to the needs of individual businesses; we will not follow exactly the same procedure for each review as we recognise that every business, and every issue faced, is unique. We will look at the processes that the business has established for managing VAT and will consider the controls that are in place to manage risk – this is essential in order to avoid errors being made and also for demonstrating to tax authorities that the business has the appropriate risk management structure.

Transaction matrices

Transaction matrices can be developed for the exact needs of the business to ensure all invoicing and reporting is accurate. Whether you need a specific matrix for an activity you are about to undertake in a new country or a review of your existing international transactions, Accordance can assist.

ERP coding reviews

To ensure your business is VAT compliant, it’s essential that VAT coding on ERP systems remains accurate.

ERP coding reviews enables your businesses to benefit from our detailed understanding of differing and changing VAT regulations across Europe. We are able to translate our expertise in international VAT into a practical and compliant coding solution for firms working in the EU.

Shared Service Centre Reviews

A Shared Service Centre (SSC) can be an effective means of optimising finance functions – particularly in large multi-territory businesses. However, there can be practical issues in managing VAT obligations in multiple territories so it is essential that the risk of making errors is minimised.

Accordance has an extensive history of working with SSCs across Europe in providing Shared Service Centre Reviews, and has a deep understanding of the issues faced by indirect tax staff in the SSC environment. Our advice and training has led to a significant rise in the standards of compliance across the accounting teams we’ve worked with: penalties have been avoided; savings identified; and processes clarified.