FS & PensionsWe have a depth of knowledge and experience working with companies in the financial sector and in pensions administration.
With various exemptions available to independent financial advisors, VAT may not be high on manys risk register. However, HMRC have tightened up their rules following the RDR of 2012 and from our experience there are many firms who have still not adopted the correct approach. For pension administrators, there is a risk of not only treating their own supplies correctly, but also on managing their clients funds and investments. 2020 will see a change to the VAT liability of certain management services of pension schemes, and there is further litigation pending that could see further change. Also many firms manage land and property investments, such as SIPP and SAAS. In our experience there is often a lack of knowledge particularly of the anti-avoidance rules that impact options to tax and TOGC transactions, and the firms are exposed to significant risk. We can assist by reviewing transactions, processes & controls, or by providing staff helplines and training. |
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Technical |
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They say the devil is in the detail, and it is never more true than in the case of VAT and Indirect Taxes. We have experience working on highly complex assignments, including land & property, international supplies, and in the not for profit sector. We will provide the level of input required to give you peace of mind and assurance, and will highlight the questions that you never knew to ask.
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The best answer for VAT purposes does not necessarily mean it is the most appropriate advice. We have the experience to take a step back and consider the bigger picture and goals of the client. Where necessary we will liaise with the other advisors, ensuring that the options for VAT and Indirect Tax advice results in the most commercial outcome.
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We appreciate the need for timely advice and the importance of being available. We will balance the business in favour of quality over quantity, and ensure that we are well placed to meet our clients’ expectations on budget and speed of delivery.
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VITA has identified and will look to fill a gap in the market for quality and cost-effective advice. As Scotland’s largest independent firm of VAT and Indirect Tax advisors, we are a fast growing business looking for strong and long standing relationships.
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