- VAT Controller Overview 152K(PDF)
- Capital Assets Database Overview 350K(PDF)
- Capital Assets White Paper 110K(PDF)
- Spreadsheet Assurance Overview 87K(PDF)
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Mixed messages from HMRC
Last year's SAO legislation got us all to focus on internal controls and procedures, and VAT was the area that seemed to appear on most organisations' list of potential problem areas. The reasons for this are varied, but the lack of somewhere to keep the myriad of VAT related details and documentation may well be part of the problem. When you look at HMRC's software for on-line filing, the challenges in meeting SAO requirements for VAT are compounded.
HMRC's VAT filing software works in as far it allows businesses to file VAT returns online, but it doesn't provide any process or control for ensuring that returns filed online have supporting documentation or that internal authorisation and review procedures have been followed. Filed returns can only be viewed for up to 15 months after filing - hardly the 6 years required by HMRC.
To adhere fully to an SAO methodology, we believe that the VAT return process should contain sufficient control, authorisation and record-keeping to support the returns, while seamlessly catering for the new mandatory online filing requirements. That is why we have launched VAT Controller, our software solution for the new VAT regime.
If you, or anyone with more specific responsibility for either VAT or SAO procedures, would like to know more about Tax Automation's VAT Controller, please give us a call on 0118 988 0241.