VAT Consultancy Services

VAT Compliance

When a business thinks of managing its tax position, so often thought turns to corporation tax or payroll taxes. However, VAT is of course quite often 20% of a business’ turnover (or possibly of its expenses!). When you look at it that way, in fact VAT is one of the most significant taxes a business can pay!

Whether it’s completing and submitting quarterly VAT returns or considering the implications of specific transactions, getting it wrong can be a costly mistake.

Our VAT team will provide you with the reassurance that your VAT returns are in order and are filed on time with HMRC so as to avoid any unnecessary disruption to your business.

We will work with you to:

  • Investigate potential transactions which may need to be properly accounted for
  • Help you to consider ways to reduce your overall VAT liability
  • Help to manage your cash flow
  • Ensure that you comply with your statutory and legal obligations

VAT Planning

There are many categories of business that are not able to recover all of their input VAT, such as financial services businesses, certain categories of property businesses and certain not for profit organisations. For these businesses, knowing how to structure their affairs – and their partial exemption method – in order to get the best VAT recovery possible will be crucial. After all, the VAT cost directly increases certain expenses for such business by 20%!

There will also be various transactions on which it will be important for the business to understand their VAT liability, such as

  • Property sales – and whether the ‘option to tax’ should be exercised
  • Transfers Of a Going Concern (“TOGC’s”)
  • International supplies
  • “Mixed” supplies
  • Financial services supplies
  • Supplies of other particular exempt or zero rated items (e.g. the plethora of different categories of food supply)

…. The list is virtually endless but the point is that VAT is not a straightforward tax, particularly for many businesses. We can help you through the grey areas to see a suitable way forward.

For more information, contact:

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