Streamlining your VAT return completion process
Even though today's financial accounting systems are sophisticated, they still struggle to provide a business with an efficient mechanism to manage and control the VAT returns completion process.
Often, businesses have to rely on cumbersome spreadsheets to help manage this process. This is resource-intensive and fraught with risk because year on year the spreadsheets become more complex as the business expands and contracts. Combined with this, staff and on-going legislative changes make completion of VAT returns an unenviable task.
PricewaterhouseCoopers VAT Return Consolidator (powered by Reveal) has been developed to provide a solution to this problem.
Our VAT Return Consolidator enables you to:
- introduce a standard submission process to monitor VAT return preparation and completion;
- allow for decentralised completion, with centralised management so that current roles and responsibilities are retained;
- carry out reporting and assurance checks prior to VAT return submission;
- submit your VAT return online to meet with the compulsory online filing obligations soon to be introduced in 2010;
- adopt best practice improvements to your VAT return processes;
- provide a business continuity plan protecting against staff changes, business changes etc and also providing for off-site back up of VAT return data; and
- be confident that your VAT return completion process is streamlined and efficient.
In using our VAT Return Consolidator solution, the entire task of completing your VAT return will become a far less time consuming and frustrating part of your job. This will help you free up time to allow you to focus on the areas which are of more importance to you and your business.
In addition, the VAT Return Consolidator will help you provide comfort to HMRC that you are actively managing VAT within your business and so will help secure a lower HMRC risk score.
