A. Despite what they said when it was introduced, VAT is not a “simple tax” and sometimes the most difficult question to answer is simply whether or not VAT is due. We can help you with complex VAT liability issues and where necessary obtain a definitive ruling in the form of a VAT non-statutory clearance from HMRC.
A. A regular VAT Health Check is good practice to avoid nasty surprises and sometimes you just need a little assurance that everything is OK, particularly if you are planning to sell your business or apply for extra finance. We can carry out a review of your VAT accounting processes and standards of compliance providing you with an objective evaluation of your current state, highlighting areas of weakness or risk and indeed any opportunities for improvement in the form of a summary report.
A. Many of our clients prefer a retainer arrangement which allows them to call on us for unlimited support via phone and email possibly with an agreed number of periodical face to face meetings for a fixed retainer fee. Additional work is provided at 50% of our current hourly charge-out rate.
This arrangement is ideal for those with a complex business or embarking on a long-term project and accountants and other advisers wishing to provide VAT support their clients without employing their own VAT specialists.
A. Any VAT registered business faced with an assessment which it believes has not been raised in proper consideration of the facts or the law should take advice as soon as possible. And even if you think the assessment is fair, you should still seek advice if an additional penalty is levied.
As “poachers turned gamekeepers” we use our extensive experience to defend our client’s position using the local review procedure in the first instance before escalation through to an appeal to the VAT Tribunal. We are also experienced with the Alternative Dispute Resolution process and have obtained a number of satisfactory outcomes for our clients.
A. From purely commercial development through to housebuilding, conversions and the development of student accommodation there are a myriad of complexities that can often arise for the developer. Due to the high values at stake, failing to take good proactive advice can result in making false assumptions resulting in catastrophic miscalculations. We act directly or indirectly for many developers in guiding them through VAT effective strategies, including how or whether to opt to tax property and with what consequences.
A. Many businesses invest in property as a sideline, often through associated companies or via linked pension funds, whereby a trading company becomes the tenant of its associated landlord. Often property is acquired or disposed of with sitting tenants and the Transfer of a Going Concern provisions (TOGC) can assist cashflow. However, there are many potential pitfalls which can impact the VAT-efficient acquisition of property, its occupation or its disposal and we act for both the professional and the occasional investor in identifying the best approaches, mindful of the impact of the Capital Goods Scheme and its potential for ‘clawback’.
A. We regularly advise our clients how best to make partial exemption clear, workable and cost-effective. We have expertise in designing and implementing special methods and we also defend clients in disputes with HMRC arising from partial exemption problems.
A. VAT is a specialist area and getting it wrong can be a deal breaker. We provide specialist support and reporting to both businesses and their advisers who are either purchasing a business or planning to sell (ie vendor due diligence)
A. Charities and Not for Profit organisations operate in possibly the most difficult VAT environment and an unexpected VAT bill can mean disaster when finances are stretched. A VAT review can help you establish what is “business” income for VAT purposes with an in-depth analysis of your income (is it a grant or a service contract?), optimise VAT recovery and evaluate any risks.
Charities and certain Not for Profit organisations also benefit from significant VAT reliefs, but the rules are complex and mistakes can be very costly. Our experts will help you maximise the reliefs you are entitled to and optimise levels of VAT recovery on your costs and if we brought in at an early stage, we can help you ensure that your capital projects are VAT efficient.
A. Amateur sports clubs benefit greatly from VAT exemptions; exemptions which can be maximised through careful planning. Partial exemption also represents a major threat to many sports clubs.
A. The status of a membership organisation is a major focus, and there are also hidden international dimensions and risks which require attention. In many cases, a degree of exemption is available.
A. Whilst partial exemption attribution is a regular source of HMRC attack, there is a valuable exempt status for admissions to certain organisations. VAT-effective agency arrangements are also important.
A. The TOGC provisions are mandatory and need additional attention particularly wherever any property is to be transferred. There are different risks for vendor and purchaser and we recommend early consideration to avoid unanticipated delays or the deal falling apart.