Talk to the Taxperts

01382 312100

VAT weighing you down?

Talk to the EQ Taxperts

VAT

VAT compliance applies to most businesses and can be complex and time-consuming. Our VAT team is there to help your business negotiate the VAT traps and ensure that you can minimise your exposure whilst complying with VAT rules. We’ll help you ensure that your systems and processes are effective in dealing with VAT compliance.

We understand that VAT is a transaction-based tax and clients usually require a quick answer. In addition, there are special issues relating to matters such as property transactions, buying or selling a business, and imports and exports, and you can find yourself unsure about how VAT affects the situation that confronts you.

Our team can offer you up-to-date and constructive advice on all aspects of VAT either on a consultancy basis or as part of a full service to your business. We are also happy to take on your VAT compliance needs through our outsourcing service, thereby integrating your business record-keeping with its accounts reporting.

Contact the VAT Taxperts

Sandi Drummond

Sandi Drummond

Supervisor

John Langlands

John Langlands

Partner

Making Tax Digital for VAT

HMRC have now issued regulations which set out the requirements for Making Tax Digital (MTD) for VAT. Under new rules, businesses with a turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HM Revenue & Customs using MTD functional compatible software. The new rules take effect from April 2019.

Our VAT and outsourcing teams will work with you to make sure that your bookkeeping systems meet the new rules and are tailored to ensure that your business is VAT efficient and capable of providing valuable information for management purposes.

Property Transactions

Property transactions can occur as a single deal or as part of a larger transaction but, from a VAT perspective, they often need to be considered in isolation. Understanding the different types of VAT supply and complexities such as “Option to Tax” and Capital Goods Scheme are crucial in considering the implications to both parties when brokering the sale, purchase or lease agreement.

Our VAT team has experience in this complex area and will provide specialist VAT advice as early as possible in the proceedings to ensure the best outcome for your business.

View Related Case Studies

Why VAT Case Law May Help

Our clients often say VAT rules do not seem clear and HMRC guidance gives examples that do not exactly fit their situation. In these situations, EQ may look…

Read more...

International VAT Issues

Some VAT aspects of cross-border and other international transactions are relatively straightforward. Others present some of the most difficult matters of definition and interpretation to be found in VAT. Complications can arise where either party to a transaction is not in the UK or where there is some aspect of the supply of goods or services which touches upon another jurisdiction.

Our specialist VAT team understands the implications and obligations arising from transactions involving parties both inside and outside the EC and can explain the different treatments that apply to business and non-business customers, goods and services, and electronically supplied services. We can also call upon the VAT specialists within the Kreston International Network to provide expert local advice from the overseas location that you are dealing with.

View Related Case Studies

VAT Compliance Visit for International Client

Our client is a business providing IT services to several very large companies. Our client had grown in the last 12 months, expanding into international markets in countries…

Read more...

Charging VAT on Sales Overseas

Our client is a UK-based software company who sell their products and services to customers all over the world. As a VAT-registered business, our client understood their obligations…

Read more...

Our services include:

Making Tax Digital for VAT

Property Transactions

International VAT Issues

Download our EQ app and keep up to date with tax news, changes and have access to our EQ Portal, tax calculators and key tax dates at your fingertips. Click on the relevant button on your device to download our free app.

Visit EQ Accountants Visit EQ Accountants

Explore the full range of EQ Expertise