Value Added Tax
VAT is considered one of the most complex areas of taxation and requires planning to ensure the right amount is paid. The legislation is changing continuously which is why our team of experts are continually up to date and aware of this ever changing landscape for the benefit of our clients.
Case study
Mr and Mrs J own two office buildings and two residential buy to lets. By structuring their property affairs in a specific way, we were able to reclaim VAT on certain costs in connection with the residential properties that they had previously not claimed as they thought such costs were not recoverable.
This resulted in a refund of £5,000 and an ongoing annual saving of a similar amount – not to mention a very satisfied client.
This just goes to show that VAT can be complex but with the right guidance you can maximise VAT savings in your business.
Our team can advise on;
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Business set up and pre-trading expenses |
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VAT planning using the flat rate scheme for businesses with an annual turnover of less than £150,000 |
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VAT and property matters |
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VAT health check |
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DIY build scheme |
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Charities and reduced rate schemes |
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Annual accounting for businesses with an annual turnover of less than £1.35m |
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Cash accounting for businesses with an annual turnover of less than £1.35m |
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Time to pay arrangements |
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Understanding when a supply is vat-able |
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Standard rated, zero rated or exempt |
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