With VAT affecting almost every business transaction, our specialist VAT advisers can help you to minimise your liability.
Although the basic concept of VAT is relatively simple, the legislation and regulations governing VAT are ever changing, thus making it a complex area. Therefore, you should consider engaging the services of a specialist VAT adviser to check on the latest VAT position before you make any commercial decisions.
Specialist VAT advisers
Our VAT advisers are specialists in their field. Not only do they need to understand the complex UK and European rules and the effects of all cases, but also how those rules and interpretations can affect your business.
We appreciate that every organisation is different and the emphasis of our work is to understand individual problems and resolve them in a practical and realistic manner to support you.
Where assignments are of an international nature, we use the local knowledge and expertise of member firms of UHY, our international network, which are located in major business centres throughout the world.
VAT advice and guidance
Almost every business transaction has a VAT effect, so active VAT planning could result in savings being made.
We offer advice on the most tax efficient way to structure specific transactions, whether they are acquisitions, disposals, reorganisations or property deals. We will guide you away from the pitfalls and ensure that the necessary steps are taken to minimise your liability to VAT.
The services we offer include:
- Consultancy advice in relation to:
- new ventures
- overseas businesses
- international trading
- partial exemption methods
- property deals
- corporate finance
- seeking formal rulings
- disputes with HMRC
- litigation advice concerning:
- instructions for Counsel
- VAT registrations and de-registrations
- VAT administration and compliance, completion of VAT returns and dealing with associated problems, errors or corrections
- advice in relation to VAT inspections and issues arising
- VAT reviews, health checks and due diligence investigations
Review of your VAT accounting systems
We can review your VAT accounting systems and procedures, to help you avoid penalties for innocent errors or where VAT is accounted for in the wrong VAT quarter.
As well as highlighting errors that could prove costly if identified by HMRC, we will help you review your current operations to identify areas of VAT risks, assess present controls within these areas, advise on any improvements necessary and highlight potential savings that can be made.
The next step
For more information, or to find out how our VAT consultants can help you with value added tax, please contact one of our VAT advisors at your nearest location, or complete the contact form.
Buying or selling a business
The buying and selling of a business, or businesses, can be one of the most complex forms of transaction that you will ever carry out.
Dealing with HM Revenue & Customs
Like any tax authority, HM Revenue & Customs (HMRC) have their agendas and targets, and ways of dealing with taxpayers.
Duty savings and warehousing
Duty costs affect both importers and those exporting outside the European Customs Union.
It doesn't matter whether you trade in goods or services or are buying or selling, trading with other countries, even those within the EU's supposedly 'common VAT system', brings a whole host of problems.
Litigation and resolving disputes - VAT tribunals
Unfortunately, disputes with HM Revenue & Customs (HMRC) do arise and appear to be increasing at an alarming rate.
Anyone considering a property transaction should obtain advice on their VAT position, because legislation and practice change frequently and retrospective action is not generally possible.
All businesses need to raise finance at some point in their life, whether it be to fund expansion of new ventures, or just to survive through a 'sticky patch'.
Setting up new ventures
Are you expanding your business? Is the new venture simply another side to your existing business or would a separate company be advantageous? Should you have a separate VAT registration or does the new venture not even qualify for VAT registration at all? What about a group registration? You need to plan in advance to minimise the VAT costs of the new venture, or even to get VAT working for you.
Understanding partial exemption
Partial exemption has evolved into one of the more complex areas of VAT.
VAT invoicing changes
Please be aware that over the last few years there have been various VAT invoicing requirements changes.