Vat Risk Assessment Service

Your Details

Company

Contact Name

Position

Email

Telephone Number

Business Activity

Section 1 - General Information

1.1 - Has the business reviewed its VAT function in the last four years

1.2 - If so, did this result in a disclosure to Revenues

1.3 - Has the business had a Revenue audit in the last four years

1.4 - If so, did this result in a Revenue assessment

1.5 - Do you have a designated employee to manage the VAT function for your business

1.6 - Has the business entered into or considered any VAT planning arrangements in the last four years

1.7 - Does the business have any VAT registrations in other EC/Non EC countries

Section 2 - Records and Returns

2.1 - Is a VAT invoice issued no later then the 15th day of the month following the month the supply occurs

2.2 - Where an invoice has VAT applied at zero, exempt or outside the scope, is there evidence retained to confirm the correct treatment has been applied

2.3 - Do you obtain and keep valid VAT invoices to support the recovery of VAT allowable on operating costs

2.4 - Have the new rules on invoicing been applied

2.5 - Are VAT returns submitted on time

2.6 - When completing VAT returns are non routine transactions considered and included

2.7 - Are VAT returns reconciled to accounting records and information including order reports and ledgers

2.8 - Is VAT input tax deducted when the invoice is received from the supplier

2.9 - Is the business confident that there are sufficient checks and controls in place to ensure correct accounting

2.10 - Have any returns submitted in the last four years been found to be subsequently incorrect

Section 3 - Systems and Controls

3.1 - Does the business have a formally documented system for VAT accounting and reporting

3.2 - Are the procedures updated to take account of changes in legislation

3.3 - Is the VAT accounting system computerised

3.4 - Are coding for VAT regularly reviewed

3.5 - Are your computerised accounts backed up regularly

3.6 - Does your accounting system identify VAT which is non deductible

Section 4 - Outputs and Inputs

4.1 - Do you account for VAT on all your supplies

4.2 - If no, do you supply goods to businesses outside located outside of Ireland

4.3 - Do you supply services to businesses outside of Ireland

4.4a - Are any goods/services supplied to consumers located outside of Ireland

4.4b - Are any supplies exempt from VAT

4.5 - If so, do you complete a method to determine the recovery of VAT on operating costs

4.6 - If so, has the method been reviewed in the last two years

4.7 - Does the business operate any discount schemes

4.8 - Has the business made any acquisitions or disposals of all or part of a business

4.9 - Has the business developed new products in the last four years where the VAT treatment was unclear

4.10 - Have any transaction routes for products changed in the last four years

4.11 - Has the businesses operating structure changed in the last four years

4.12 - Does the business purchase goods/services from non Irish businesses

4.13 - Does the business only recover VAT where a VAT invoice is held

4.14 - Does the business occur VAT in other EC or non EC countries

4.15 - Does the business have guidelines in place to determine whether VAT is recoverable on a supply

4.16 - Is VAT disallowed on goods/services purchased for non-business use

Section 5 - Property

5.1 - Does the business own any residential or commercial property for investment purposes

5.2 - If so, are properties let to third parties under lease

5.3 - If so, is a waiver of exemption in existence

5.4 - Is VAT charged on the rents received

5.5 - Any properties been disposed of in the last four years

5.6 - Any properties been acquired in the last twenty years

5.7 - Was VAT accounted for on the disposal/acquisition

5.8 - Any refurbishment/repair works etc. undertaken

5.9 - Is the business aware of the new rules covering VAT on property effective from June 2008

5.10 - Does the business have any property in other countries

Section 6 - Submit Form

Please click the submit button to the right and we will get back to you with any VAT issues you may have