VAT

There is a general perception that VAT is one of the less complicated taxes. This could not be further from the truth. For the majority of businesses accounting for VAT is a repetitive process and causes no problems. However, caution needs to be exercised as there are many pitfalls for the unwary and HMRC now take a far more stringent view when applying the regulations which results in interest and penalties being levied. Areas that we can assist with include:

• Initial registration
• Types of supply and appropriate rates
• Partial exemption
• The flat rate scheme
• The capital goods scheme
• Motor traders’ margin scheme
• Agricultural flat rate scheme
• VAT on property and Opting to Tax
• Scale charges for fuel on company cars
• Exporting and importing goods and services

There are numerous other areas that require specialist advice so if you have any concerns over the running of your business and ensuring compliance then contact us.

If you would like to discuss or know more about VAT then please get in touch with us using the following options:

• Contact Us
• Arrange A Callback