VAT Analytics: Uncover VAT Savings, Reduce Risk & Unlock Cash Flow
Most businesses process thousands, sometimes millions, of VAT transactions every year.
But how many are actively interrogating that data?
In our experience, not enough. Because hidden within those transactions, there could be (and so often is) missed VAT recovery opportunities, unnecessary costs, compliance risks and cash flow improvements that can significantly impact your bottom line.
That’s why we’ve developed our VAT Analytics tool. A powerful solution that reviews up to four years of VAT transactional data to uncover opportunities many businesses don’t even realise exist.
What’s more, we believe we’re one of the very few firms bringing this level of indirect tax technology and insight to the market.
WHY VAT ANALYTICS MATTERS MORE THAN EVER
VAT is one of the most complex areas of tax compliance.
As HMRC continues to increase its focus on VAT governance, controls and data quality, businesses are expected to demonstrate increasingly robust processes and monitoring. Meanwhile, future developments such as e-invoicing will only pile on the importance of having accurate, reliable transactional data.
The challenge?
Traditional VAT reviews tend to rely on sampling and manual checks. They can identify issues, but they rarely examine every transaction in detail.
VAT Analytics takes a different approach.
Using advanced data analysis, we can assess vast volumes of VAT data quickly and efficiently, helping you identify issues, opportunities and trends that would otherwise go unnoticed.
WHAT DOES VAT ANALYTICS IDENTIFY?
VAT savings opportunities
Clients we’ve worked with are often pleasantly surprised by the amount of recoverable VAT hidden within their data.
Our VAT Analytics tool helps identify:
- Overpaid VAT
- Under-claimed VAT
- Coding errors
- Missed recovery opportunities
- Incorrect treatment of transactions
In many cases, these opportunities have been sitting unnoticed for years, and there’s no time like now to bring them to the surface.
VAT risks and compliance gaps
HMRC expects businesses to perform regular testing and maintain appropriate VAT controls.
Our platform automatically runs the same types of data-driven tests that HMRC expects organisations to carry out as part of good VAT governance. This helps identify:
- Compliance weaknesses
- Process failures
- Transactional errors
- Potential areas of HMRC challenge
Cash flow improvements
VAT is as much a working capital issue as it is compliance.
By analysing VAT transactional data in detail, we can identify opportunities to improve the timing of VAT payments and recoveries, helping businesses strengthen cash flow and release cash back into the organisation.
REAL RESULTS WE’VE ALREADY DELIVERED
The tool is already helping businesses achieve incredible outcomes.
Recent client successes include:
- More than £1 million in monthly cash flow benefit through an input tax accrual project that improved working capital
- £80,000 recovered from employee expenses where VAT had been incorrectly coded and not reclaimed
- £100,000 of annual VAT cost eliminated for a partly exempt business that was unnecessarily accounting for VAT under the reverse charge mechanism
- £30,000 recovered from a single mis-posted invoice
Even small errors when repeated across thousands of transactions can create significant costs or missed opportunities over time. We’re here to help you track them down.
WHO CAN BENEFIT FROM VAT ANALYTICS?
If your business is VAT-registered, there’s value in understanding whether your VAT data contains hidden risks, unclaimed VAT or opportunities to improve cash flow.
In our experience, organisations of all sizes and across all sectors can benefit from a more detailed, data-led assessment of their VAT position.
VAT QUESTIONS EVERY FINANCE LEADER SHOULD BE ASKING
If you’re responsible for finance, tax or compliance, it’s worth considering:
- How confident are you that your VAT processes are operating effectively?
- Have you ever carried out a detailed review of your VAT transactional data?
- Could VAT errors be hiding within your systems?
- Are you fully recovering the VAT you’re entitled to claim?
- How confident are you in the quality of your transactional data?
If any of those questions make you pause, it may be time to take a closer look.
TURN YOUR VAT DATA INTO A COMPETITIVE ADVANTAGE
Most businesses already have the data needed to identify VAT savings, reduce compliance risk and strengthen cash flow at their disposal.
The challenge is knowing where to look.
Our new VAT Analytics solution combines specialist indirect tax expertise with powerful data analysis to help you uncover valuable insights that have been tucked away for years.
Then, your VAT strategy can become a source of savings, risk reduction, and genuine commercial advantage.
Want to get to the bottom of your VAT data? Get in touch with Cooper Parry’s Indirect Tax team to explore how our VAT Analytics tool could make a big difference to your business.
