VAT returns are only as reliable as the underlying bookkeeping systems in place. Several issues, be it miscoding or incorrect VAT rates, can distort the final numbers and make the whole process far more complicated than it needs to be. The risk of these errors increases for businesses that are growing and managing multiple VAT rates, and HMRC’s penalty regime means inaccurate submissions can become costly, no matter how unintentional the mistakes may be. Allowing our team of experts to compile your VAT return provides reassurance that the return will accurately reflect your records properly. We can also provide supporting documentation in place should HMRC ever query a submission.
When it comes to WR Partners, I absolutely trust their judgement, and I trust that they are there to help us.
Nick Evans, Cymryd Rhan
We’ll compile your VAT returns using your existing bookkeeping records and any relevant supporting documentation such as sales invoices, receipts, and bank transaction data. If necessary, we’ll also help ensure any records align with Making Tax Digital (MTD) expectations, including the maintenance of digital links and a consistent audit trail from source documents to VAT return figures. Our team will compile key figures to identify gaps or inconsistencies before the return is finalised and sent to HMRC. Once we have compiled everything, we’ll provide you with a clear summary of the VAT position for the period, including the net liability or repayment position. Our team will also highlight any items that may require attention before submission.
There are several different issues that businesses encounter when carrying out VAT returns, which we can help avoid. Applying the wrong rate or misclassifying exempt items can affect multiple boxes on the return and trigger serious issues later on. Claims for input VAT can be restricted if invoices are invalid or don’t have all the necessary information included. Similarly, claims get affected if expenditure is partly private or blocked under VAT rules. Duplicate entries and timing issues often arise when businesses are too reliant on manual processes or have inconsistent bookkeeping records. Our team will sense-check unusual movements as well as larger claims and irregular transactions so that issues are unearthed before submission.
Typically, sales and purchase invoices, receipts, bank data, and access to bookkeeping software or digital records.
Yes, we can compile returns using MTD-compatible systems and advise on record-keeping that supports digital compliance.
We reconcile and sense-check figures to find inconsistencies or VAT coding issues before the return is finalised.
Where errors are identified, our team can advise on the appropriate correction route and suggest that additional VAT support is required.
We love meeting new, exciting businesses. Get in touch with our team to see how we could enhance and protect your financial position.
Or if you’d prefer to speak to someone directly just give us a call on: 08000 664 664 or email: hello@wrpartners.co.uk.
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