VAT ADVICE AND COMPLIANCE
Over the years the attention of Taxation has increasingly shifted from direct to indirect taxation. Thus VAT, Customs and excise taxes have been the focus of more and more attention from the tax authorities.
UK Value Added Tax (VAT) is a complex and difficult area of taxation, frequently modified with new rules and procedures which affects most businesses and organisations.
Since VAT related regulations and law is subject to continuous change, it is important for our clients to regularly check their position as to whether they are in compliance with such changes. If VAT is not properly understood, there is a chance that the client may pay too much VAT by way of deduction or the alternatively client may fail to reclaim VAT from the tax authorities.
VAT RELATED DEVELOPMENTS
Tax authorities often expect that companies can demonstrate that they are managing their tax risks Thus tax risk management has been assuming increasing importance. The tax risk assessment is a system of processes and internal control measures in which company’s obtain overview of the tax risks and as to how these can be managed effectively.
Automated and standardised VAT declaration process not only leads to less risk of mistakes but also of time savings as crucial checks take place automatically. Some ERP systems have however not kept upto date with these developments meaning that the ERP system is no longer sufficient to fulfil all VAT obligations and process information correctly. Practical solutions must be found in the ERP system to manage VAT.
CareAccountancy team of experts has a detailed understanding of UK VAT and can provide a range of compliance and advisory services. CareAccountancy can assist its clients in preparation and submission of VAT returns provides them advice in choosing right VAT scheme and the right approach to collect all the required information in very cost and time efficient manner. It can also can assist its clients with the extensive services extended available to it in the field of VAT and Customs.
CareAccountancy offers a wide range of the VAT related services which comprise of the following:-
- UK VAT Advice and Compliance
- VAT registration and de-registration
- VAT on Property Transactions including developments and new-builds
- Intrastat and EC sales
- Claims for overseas VAT
- VAT tax inspections, investigations and disputes
- VAT advice for charities, social and not-for-profit organisations
- VAT advice for small businesses, international and corporate companies
- Seamless global VAT advice through JHI
CareAccountancy team can also analyse data to identify any errors and VAT risks for our clients and how these could be reduced. Thus CareAccountancy is well placed to provide VAT advice on all matters affecting clients VAT related business needs.
VAT PLANNING & TRANSACTION ADVICE
CareAccountancy can provide the following VAT related planning services and transaction advice
- Ensure clients are only paying the correct amount of VAT
- Ensure clients are claiming back everything they are entitled
- VAT treatment of transactions are being effectively managed,
- Check to accounting processes and records for compliance reasons.
- Identify weakness in accounting, VAT rules or incorrect VAT treatment areas
- Minimise VAT cost to client’s businesses.
- Identify areas of potential savings or liability.
- Checking errors, small or large, when not checked or identified, can amount to significant overpayments or underpayments.
- Ensure all systems and processes are working efficiently and effectively,
- Give clients confidence and peace of mind that VAT return are accurate.
OUR FEE AND CHARGES
Our fee and charges for handling VAT related service and VAT planning and compliance, vary on a case by case depending upon the intricacy of the case, however our charges are very competitive.