VAT and Currency Evidence

VAT Sources

VAT can come from three sources:

• Import: initial bank/CSV data.
• AI: receipt analysis.
• Manual: user edits.

Manual changes should be treated as intentional and preserved.

Monzo VAT

Monzo imports default VAT conservatively because the CSV does not provide detailed VAT fields. Use receipt evidence and manual review to confirm VAT.

Revolut VAT

Revolut imports can detect explicit VAT from tax columns. Travel-related vendors and descriptions may default to no VAT.

AI VAT Analysis

AI VAT analysis uses receipt text and images. It should only mark VAT as included when there is clear evidence, such as UK VAT at 20%, VAT registration details, VAT line items, or explicit VAT calculations.

If a receipt is unclear, defaulting to no VAT is safer than overclaiming.

Total Ex-VAT

If VAT is included, GrantKeeper calculates total ex-VAT by removing 20 percent VAT from the GBP total unless a more specific import calculation was available.

If VAT is not included, total ex-VAT equals total GBP.

Currency Evidence

For non-GBP transactions, GrantKeeper can generate Mastercard conversion evidence.

Check that:

• original currency is correct,
• original cost is correct,
• total GBP is correct,
• conversion rate is sensible,
• evidence exists and opens.

If conversion evidence fails, check whether the date is in the future or incorrect. Fix the purchase date and regenerate or refetch evidence.