Yes, but without the assistance of dedicated software and given the changes to and complexities of the VAT regulations, it is virtually impossible not to miss transactions that could legally be claimed
Audit checks are normally only done on a sample basis whereas the IRR software will interrogate every single transaction over the last 5 years
We are not aware of any of the existing accounting programs that provide this as a specific function
Confidentiality is taken extremely seriously, and IRR has comprehensive steps in place to ensure that our client’s data is safeguarded
Virtually all the analysis work is done at IRR’s premises so the impact on the client’s day-to-day working is minimal
In such a case you would pay nothing
IRR often identifies simple process issues that the client can incorporate to reduce unclaimed Input VAT transactions. These will always be shared with the client. Nevertheless, it is beneficial to repeat the exercise at regular intervals, especially if there have been staff changes in the financial departments, accounting system changes, high volumes of transactions or changes to the VAT regulations
Payment is expected within 30 days of the client receiving a refund of their input VAT. The process will be monitored in liaison with the client and IRR will submit invoices as appropriate