VAT

VAT is a complex tax which businesses have to deal with as they grow. It’s not surprising that many businesses over or underpay without realising it. Broadly VAT applies to transactions where there is a supply of goods or services made in the UK by a taxable person in the course of business.

The wide scope of VAT, the constant changes to the regulations and the demands of HMRC mean that choosing the right scheme and looking after our clients' VAT affairs is an important part of the overall service we provide.

We offer a comprehensive VAT service including:

• assessing the advantages and disadvantages of being VAT registered
• deciding on the most appropriate scheme
• registering businesses for VAT
• assistance with compliance matters including completion of quarterly returns
• updates on new VAT developments
• advice on structuring transactions in the most tax efficient manner
• planning for a VAT inspection from HM Revenue & Customs

As a judge famously said: “…beyond the everyday world lies the world of VAT, a kind of fiscal theme park in which factual and legal realities are suspended or inverted”. The more you discover about VAT the more you come to realise that situations are seldom as straightforward as they appear. You will increasingly learn to think of VAT as a risk management issue, not an exact science.

VAT Pages ► VAT Summary ■ VAT Rates & Limits ■ VAT Cash Accounting ■ VAT Flat Rate Scheme ■