VAT

Value Added Tax (VAT) is a tax on the final consumption of certain goods and services in the UK but it is collected at every stage of production and distribution. The tax is charged on taxable supplies made in the UK by taxable persons and credit is given for tax paid to other businesses. The net balance is payable or reclaimable to HM Revenue and Customs, normally on a quarterly basis.

Introduced over 30 years ago as a ‘simple tax’, it has evolved into a high risk area where professional advice is often needed to understand the complex rules and consequences of transactions.

VAT can become complicated when dealing with other member states of the European Union and non-member countries. A short call for professional help can save costly repercussions later.

Many of our clients enjoy peace of mind through our compliance services:

• VAT registration and de-registration
• Advice on the most appropriate scheme for you
• Completion of returns either from your own book-keeping or from book-keeping we have performed for you
• Review of your own VAT compliance work
• Advice on trading in Europe and overseas

Sooner or later all businesses receive a VAT inspection from an HM Revenue and Customs officer. We can assist you with:

• Practical support during VAT inspections.
• Attendance at VAT Tribunals.
• Review of assessments.
• Negotiations with HM Revenue and Customs.

For more information contact us now.