Transactions

VAT is a transaction tax. As such, the VAT liability for each transaction must be considered before agreeing terms with a customer or entering into a transaction. Harsher penalties now exist for not applying the correct VAT treatment, or miscalculating your VAT returns.

Certain sectors will have difficult VAT liability issues to resolve. Examples of some of these sectors will be the financial and insurance sectors, those involved in the provision of electronically supplied services, charities and non-profit making organisations, the health and welfare sectors, and entities involved in the construction and buying and selling of land and property to name a few.

We provide assistance to maximise your or your clients VAT position to ensure compliance and VAT efficiency. Examples here will be in respect of the purchase of property interests by charities or not-for-profit organisations, transfers of going concerns, and international supplies of goods or services.

VAT Reviews

VAT reviews can be beneficial for you or your clients to ensure no more VAT is paid then is necessary.

It is important that what VAT benefits remain available and the VAT schemes than can be used to make VAT compliance easier, and in some cases create greater VAT efficiency, are fully utilised.

We have experience of undertaking full or partial VAT reviews to assist in improving cash flow, or identifying VAT savings that can be made for your clients or direct for businesses or charities.

Examples here can be partial exemption reviews, scheme reviews, and business / non business allocation.

Reviews of HMRC assessments or decisions

We will assist you in looking at any decision or assessment made by HMRC to consider whether this is justified or whether HMRC have not understood or accepted the full facts.

It is necessary to consider whether HMRC have raised any assessment within the prescribed time limits.

We can seek a reconsideration of HMRC’s decision and where necessary submit on your or your clients behalf appeals to the VAT and Duties Tribunal. Where necessary, we will on your behalf, instruct Tax Counsel.

VAT Planning and Efficiency

We can provide VAT advice to ensure you or your client does not incur or pay more VAT than is necessary. We do not belief in any aggressive VAT planning but can assist in ensuring VAT efficiency subject to the intended business arrangements and the commercial reality of any arrangement.

In some cases where entities can change the structure of their arrangements, for which there are valid commercial, relevant charitable or relevant residential reasons this can result in large VAT savings.

Company Registration Number 03229532 (England and Wales)
Registered Office: 3, Acorn Business Centre, Northarbour Road,
Cosham, Portsmouth, Hampshire PO6 3TH