VAT Auditing made easier

ADP have worked in partnership with the HM Revenue and Customs in the UK to facilitate the process of VAT audits.

Autoline revision 8 is now available with a suite of integrated VAT audit reports which can provide reassurance to a dealership whilst preparing for a VAT audit. The standard reports that Customs and Excise use when performing a VAT audit are now available for the dealer to use at any time. The reports provide information so that the accountant can monitor transactions within the business, highlighting errors that may occur, which can then be identified and rectified as soon as possible. Usually these issues are only recognised when the audit is underway, slowing up the process and creating stress for the accountant.

There are more than 20 reports covering Sales Ledger, Purchase Ledger, Nominal Ledger and Vehicle Stockbooks. Mike Tilt from HM Revenue and Customs comments, "HM Revenue and Customs are delighted that ADP have worked in partnership with the department to install these reports on their Autoline system. Diligent use of these reports will enable accountants to ensure that their VAT returns are accurate. HMRC is committed to reducing compliance burdens for businesses and the provision of these reports will significantly contribute to this objective."

For further information on the HMRC, please contact mike.tilt@hmrc.gsi.gov.uk.