Insights

Automating the preparation of VAT returns

Presentations

Many thanks for joining us for our Automating the Preparation of VAT Returns seminar.  I hope that you found our afternoon thought provoking and useful.  

Below are the slide presentations we used during the afternoon:
 

Results of our benchmarking survey – we had over 90 responses to our survey, the main themes of which were that:

  • businesses perceive that they have a low level of automation in their VAT return preparation process;
  • most businesses take data from their ERP system and use Excel to prepare VAT returns;
  • there is a high level of desire to introduce more automation into the VAT preparation process; and
  • businesses struggle to agree significant budgets for stand-alone VAT automation projects and, therefore, identifying small value added projects is an important part of the journey towards automation for most businesses.

 

Configuring ERP Systems in order to automate VAT return preparation – Andy Michaelides and Ben Woodfield led our breakout on automating ERP systems for VAT compliance. If you want any further help from Andy or Ben their email addresses are as follows: amichaelides@deloitte.co.uk and bwoodfield@deloitte.co.uk.


Making the most of Excel – James Whyman and Stephen Hodgson led this session, in order to automate VAT return compliance. James and Stephen’s presentation focussed on “quick wins” in order to increase the efficiency of preparing returns and also increasing the reliability of returns. If you need to contact James or Stephen their email addresses are as follows: jwhyman@deloitte.co.uk and shodgson@deloitte.co.uk


Automating the reconciliation of VAT returns to the general ledger, Intrastat returns and EC Sales Lists – Adam Gray and Giuseppe Ciampa led this session and focussed on “quick wins” in order to achieve this. If you need any further help or clarification from Adam or Giuseppe please contact them at adgray@deloitte.co.uk or gciampa@deloitte.co.uk.


Technology for a Centre of Excellence – this session was led by Ingrid de Velder, Daniel Barlow and Vincent Bock and focussed on establishing a centre of excellence in order to complete indirect tax compliance on a centralised basis and, in particular, the journey of selecting technology to automate the VAT return preparation process within centres of excellence. Dan, Ingrid and Vincent can be contacted at the following email addresses: dabarlow@deloitte.co.uk, idevelder@deloitte.com and vbock@deloitte.com.


We are grateful to Vertex for attending our seminar and presenting on the Vertex solutions for preparation of tax returns. Vertex can be contacted on the following email addresses: alan.james@vertexgts.co.uk, andrew.hallsworth@vertexgts.co.uk and mike.tomlinson@vertexgts.co.uk.


We are similarly grateful for Thomson Reuters ONE SOURCE attending the workshop. They can be contacted as follows: Toby.gallington@thomsonreuters.com.


I hope that these materials are useful. Finally, thank you for attending our afternoon and all of your contributions in making the afternoon as thought provoking for us at Deloitte as it hopefully was for you.

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