VAT

This must be one of the most complex areas of taxation. It is a minefield for the unwary and full of pitfalls. The legislation is lengthy and complicated and it can be quite difficult deciding on whether particular supplies of goods or services are zero rated, standard rated or exempt. The difference is very important. With standard rated supplies and zero rated supplies it is possible to recover all the VAT on expenses directly related to those supplies. It is not possible to recover VAT on expenses directly related to exempt rated supplies.

Remember it is the responsibility of the registered trader or company to get things right as far as VAT is concerned. Ignorance of the law is no excuse. If during an inspection visit by HM Customs & Excise something is found to be wrong you may have to pay penalties and interest.

Let us help you with VAT planning and compliance.

Why not telephone us for an initial meeting? (First half-hour free)! You have little to lose and everything to gain.Contact us on +44 (0)20 8363 5502