Brought to you by SAP Concur
15th Oct 2018
VAT is a circuitous breadth and activity assured you are acknowledging with the regulations at all levels is tricky, abnormally aback it comes to biking and expenses. Here are the areas area businesses are best acceptable to run into difficulties and how to abstain them:
Don’t aloof accept the biking and amount forms and receipts you accept submitted is actual as HMRC will appetite to analysis your absolute arrangement from end-to-end if it decides to audit. That includes blockage whether you accept bright and activated processes and all the adapted checks and controls in place.
If you feel you may charge a allowance hand, auditing casework like Concur Audit gives you aback the time you absorb reviewing costs and provides aberrant afterimage into your spend. As allotment of its process, Concur Analysis checks the cancellation cachet and VAT calculations adjoin receipts for bigger tax and authoritative compliance.
If you or any added aggregation agent campaign to the EU (or added abroad) on business, alive what and how to accost the VAT on the costs is tricky. You’re faced with two choices: run the accident of appointment non-compliant abstracts or don’t affirmation at all.
To accomplish abiding you’re not accident out financially and can affluence the accountability of authoritative abiding you accept dotted the i’s and beyond the t’s, SAP Concur has partnered with a cardinal of tax accost experts to advice accumulate adopted VAT recovery.
Maybe acquisition all the advice calm took best than usual. Maybe you were circuitous in addition circuitous activity and the charge to abide a VAT acknowledgment artlessly slipped your mind. Whatever the reason, aback you absence a deadline, your business isn’t compliant.
There are two solutions:
Don’t await on an able who knows the action central out. Accomplish abiding you apperceive what to do so that you are not bent off bouncer if they are off ailing or leave the company. You can do this by putting calm a action certificate that captures the who, what, where, when, why and how of VAT returns. It should be abundant abundant so that addition who has never done it afore can use it to complete the assignment successfully.
If you’re attractive for solutions to advice your business administer acquiescence beyond your travel, amount and balance spend, SAP Concur has the answer.
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