VAT Data Extraction API

Simplify and Automate VAT Return

Tracking VAT for every receipt is an unavoidable legal requirement for many businesses in the UK. Ten pounds here and there can add up to a meaningful VAT return across hundreds or thousands of quarterly receipts. Unfortunately, the process of actually tracking and submitting all those receipts is time consuming, inaccurate, and laborious. The Itemize VAT Extraction Service can do that work for you and your clients. The API solution automatically extracts VAT data from paper and digital receipts to streamline the value added tax reclaim process, an ideal solution for financial workflow and supply chain companies. With the Itemize VAT Extraction and Recovery Service, submitting documents is easy. Just upload a photo or digital file of the VAT receipt to the API endpoint. Within an hour the VAT data set is extracted, confirmed, validated, and returned to your workflow system. The extracted data set complies with HMRC requirements for storing digital documentation. The Itemize VAT Extraction Service can do that work for you and your clients. The API solution automatically extracts VAT data from paper and digital receipts to streamline the value added tax reclaim process, an ideal solution for financial workflow and supply chain companies. With the Itemize VAT Extraction Service, submitting documents is easy. Just upload a photo or digital file of the VAT receipt to the API endpoint. Within an hour the VAT data set is extracted, confirmed, validated, and returned to your workflow system. The extracted data set complies with HMRC requirements for storing digital documentation.

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Claim 100% of VAT

Typically 30% of VAT paid and documented on receipts goes un-reclaimed. You can fix this for your clients with Itemize. Upload all your clients’ receipts, hotel bills, and even invoices to obtain highly accurate VAT return data. Track 100% of your VAT. In the process you’ll also simplify reporting and reconciliation.

Reduce VAT Bookkeeper Costs and Mistakes

With highly accurate and validated data extraction, Itemize is able to provide all of the data your accountant requires with none of the mistakes typically experienced with manual data entry. Itemize makes your employees more productive and reduces manual data entry costs, all while receiving the VAT data required by law. 

Fully Comply with HMRC Requirements

Itemize processes and authenticates documents consistent with HMRC’s requirements for Digitization of Tax. You can migrate your clients from manila folders of fading receipts to a fully compliant digital archive that includes receipt authentication, merchant verification, and other useful compliance attributes to assist in easily obtaining their VAT return.

Automation Benefits

* Increase VAT Reclaim by 30% * Integrate with your ERP system * Fully compliant with HMRC * Reduction of unnecessary costs

Why use Itemize?

* Accurate: Paper, digital, and any format achieves 99% accuracy * Granular: extract the fields you need to submit payment * Efficient: lower processing cost than if done manually * Scalable: minimal human touch through the use of AI.

Benefits of Automated VAT Recovery Services

Feature Rich. No Work.

The hard part is done. Simply connect to Itemize, send the document, and receive your processed documents.

Accurate

High extraction accuracy SLAs

Verified

Multi-dimensional confirmation

Global

Supports uses & vendors around the world

Fast

Fully verified results within 60 minutes

Reconciled

Use data for reconciliation and audit needs

Scalable

100% in the Cloud

Detailed

Returns financial & vendor data

Compliant

Evaluates every document for compliance

Secure

SOC2, PCI, GDPR, Privacy Shield certified

"End of the year report for tax purposes - This has saved me HOURS of year end time when doing my taxes"
Lynn M.
IT Professional