Munster’s first independent VAT consultancy practice providing specialist VAT and Indirect tax advisory, assurance and interim management support services to owner managed businesses, small & medium enterprises, accountants and legal practices.

VAT Assure: quick query resolution service launched

Tuesday, May 10, 2011

by Nick Ryan

The VAT Practice is proud to announce the launch of its VAT Assure service and innovative service for accountants, SME’s and OMB’s . This service provides businesses with a quick query resolution and assurance service for a fixed fee. The service is designed to deal with a range of VAT issues that can arise and require specialist input in order to provide the appropriate level of sign off and assurance on VAT.
These issues can be broadly identified as follows:
VAT sign off on ad hoc queries including “Am I right or wrong” VAT appraisal and sign off on your answer .
Quick assurance on the VAT liability/treatment of a product, supply or service.
Appraisal of VAT issues for a business, new product line, new transaction arrangement, new customer.
Quick appraisal of Revenue investigations and queries.
The service is provided at two levels linked to potential input:

Standard Package: For the management of ad hoc queries requiring a standard input we can offer a fixed rate of Euro 65 (exclusive of VAT) which provides for a maximum time input of one hour per query.
Superior Package: Where the range of queries might include issues requiring a greater investment in VAT specialist input we offer a fixed rate of Euro 95.00 (exclusive of VAT) and covers a maximum time input of 2 hours per query.

In both cases were it is identified that the query requires an input of greater than the standard input then a fee estimate will be provided, the fee estimate will incorporate the fixed rate agreed and additional time over and above the time input offered will be charged at an hourly rate of Euro 150 per additional hour.

Therefore under this arrangement where the higher investment rate is selected a query that would require four hours of input would realize a fee of Euro 395 exclusive of VAT as opposed to the current fee of Euro 600 thereby achieving a saving to you of Euro 205.
Responses to queries will be made, unless circumstances prevent, within 48 hours.
The completed template then can be easily print and filed for record purposes and also provides for risk assurance in that the answer provided is solely based on the information contained within the submitted query template form.

In order to use this service we provide you with a template query form which should be completed per query and allows for additional information, for instance example invoice, to be sent with the form by email. It is anticipated that this service will move to an online submission form via a link to our web site and will also provide for an accompanying online payment process to reduce administration and running costs. Look out for further announcements on this soon.

For more information contact Nick at advice@thevatpractice.ie