VAT Consultancy Services
VAT Consultancy Explained
In these challenging and uncertain times, it is more important than ever to ensure that costs are managed, and one cost that is often overlooked is VAT.
VAT can be an absolute cost, through missing out on VAT recovery, missing out on VAT reliefs, or not being able to recover undercharged VAT from your customers.
VAT can be a cashflow cost, through failing to reclaim VAT at the earliest opportunity, declaring output tax earlier than is necessary or through having an inappropriate VAT “stagger”.
In addition, there can be significant costs arising from HMRC imposing penalties where a business gets their VAT accounting wrong, resulting in them under declaring or over claiming VAT. Even where there is no deliberate act or concealment, VAT penalties normally start at 30% of the VAT under declared or over claimed, which can add significantly to the cost of making a VAT error.
Through proactive advice at an early stage, we are confident that we can add value, whether you are undertaking a one-off transaction, negotiating with HMRC, or planning a new business stream