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If you’re a UK accountant looking to outsource VAT services, then Unison Globus UK can help you reduce costs, improve turnaround times, and scale even during the busiest periods.
Many UK accountants feel VAT accounting represents one of the more complex services to deliver. With the risk of fines and penalties for late returns, and changes in UK and EU regulations affecting even the smallest businesses, many accountants decide to deliver VAT work using only experienced tax professionals.
However, when the tasks involved in preparing a VAT return are broken down, many parts can be outsourced easily, freeing up experienced in-house resources to focus on more complex VAT advisory work. Common tasks outsourced by UK accountants include:
- Bookkeeping and transaction coding
- VAT return preparation
- VAT reconciliations
- Updating purchase and sales ledgers
- EU and international VAT accounting
- Making Tax Digital (MTD) submissions
- VAT registration and deregistration
- Responding to routine HMRC correspondence.
Available outsourcing models
Regardless of the size of practice seeking to outsource work, there are a number of options available.
Practices with high number of similar clients often decide to employ a full-time qualified professional based offshore. The individual is an extension of the onshore team and works directly to UK management. Where workload is harder to predict, some practices decide an ad-hoc (‘pay as you go’) type resource works best for them. This means resources can be scaled up when demand is high (at quarter end for example) and scaled down when demand is not so high.
Accountants can test the outsourcing process with a small amount of work, such as digital bookkeeping or VAT return preparation. Outcomes can be evaluated for quality, technical accuracy, and turnaround against performance consistent with in-house targets.
Many offshore suppliers, including Unison Globus UK, offer a free-trial period, where accountants can test the service before entering into a contract.
One Unison Globus UK customer is Alan Woods, the founder and owner of Woods Squared, who says:
“I can understand why the prospect of overseas outsourcing feels daunting – we were certainly cautious at first, but by investing in the relationship and finding the right partner, we’re now so much more agile as a practice.”
For any accountants not convinced, using a pay-as-you-go model can be a really good way of testing the waters or dipping a toe into exploring how the right outsourcing partner could support your firm, both to alleviate immediate demand and to help you plan more strategically for the future.
Regardless of the outsource model implemented, the delivery of work is most effective when fully integrated with the onshore team.
What to look for in an outsource partner
Accountants can ensure they implement outsourcing effectively by following some simple rules to deliver the outcomes they need. The most effective outsource partners should demonstrate:
- Wide experience of working with UK accounting firms of all sizes
- Knowledge of UK VAT legislation and Making Tax Digital requirements
- Staff trained in UK tax regulations and accounting standards
- Experience with major commercial tax and accounting software.
The onshore team should also check:
- References from similar UK firms working with the outsource partner
- Arrangements for training and professional development of the offshore team
- Turnaround times
- Quality control procedures.
Data security arrangements.
There are many ways to share data securely with an offshore accountant – whether through a secure file transfer protocol server, by granting remote access to your server, or sharing files via cloud systems. Regardless of arrangements, the onshore accountant needs to be confident in the offshore IT and physical safeguards, such as anti-virus software, secure VPN connections and 24/7 surveillance.
Unison Globus UK ensures data security by using the most secure, advanced accounting software available with state-of-the-art systems and other physical safeguards to prevent the loss or misuse of data. We are GDPR and ISO 27001 compliant and use cloud-based solutions to ensure data cannot be downloaded, mitigating the risk of data loss or IP theft.
How do I find out more?
Many UK accountants looking to deliver VAT services and grow the range of tax services offered to clients can use outsourcing as an effective solution.
At Unison Globus UK, we have been providing offshore VAT services to accountants since 2006. Our customers include sole proprietors, as well as small and medium sized firms. Our outsourced VAT tax and accounting services are suitable for all client engagements – from sole traders and micro businesses to SMEs and large companies.
We provide a free trial of up to 10 hours of accountant time, with turnaround in 72 hours. If you’re looking to outsource services for the first time, increase margins, and help your clients thrive, you can book a video call with one of our expert advisors or email us at [email protected].
