VAT
VAT impacts on every business.
The rules are complex and constantly changing. HMRC interprets the legislation very strictly and has extensive powers to levy penalties on those who fail to comply. As a result, VAT represents a major risk area across all business sectors.
HMRC require businesses to account for “the right tax at the right time” – no less and no more. Our aim is to help you achieve that objective.
Our VAT services include:
- Compliance support
- Advice and assistance on registration
- Assistance with setting up and reviewing VAT accounting procedures
- VAT “healthchecks”
- Support during HMRC inspections
- Advice on handling disputes with HMRC
VAT Planning
- Advice on VAT aspects of new products and services
- Support and advice on property acquisitions and disposals
- Advice on VAT implications of buying/selling a business
- Keeping you informed of new VAT risk areas/savings opportunities arising from changes to legislation and developments in case law.
Charities
VAT is a major issue for most charities and not for profit organisations.
There is no general relief from VAT for charities on the goods and services that they buy in. However, because most of their income is outside the scope of VAT, charities are often unable to reclaim the VAT that they pay on purchases. As a result, VAT represents a major cost to most charitable organisations.
We offer a range of VAT advisory services to help charities manage the impact of VAT including:
- Review of organisation structure
- Advice on VAT registration
- Review of income and expenditure codes
- Advice on charitable reliefs
- Planning to manage the impact of major transactions
- Negotiation of VAT recovery methods
This advice often results in significant VAT savings for our clients.
VAT Technical Updates
February 2012