The rules are peppered with minefields to catch out the unwary, and infused with a multitude of fines to penalise mistakes. Whether trading locally or in the global marketplace, it is important to ensure your systems and processes are sufficiently robust to cope with VAT compliance
Added to that are the special issues surrounding such matters as property transactions, buying or selling a business, imports and exports, and you can soon find yourself buried under a mountain of regulations.
We can offer you up-to-date and constructive advice on all aspects of VAT. Liaising with HM Revenue & Customs on your behalf, we will keep you on the correct side of the rules.
We will also highlight any potential planning opportunities available and keep you up to date with any relevant changes in the VAT rules – through guidance, training and workshops.
The Bishop Fleming VAT team has many years experience in helping businesses and organisations, both small and large, with all aspects of the rules.
What is VAT?
VAT is a transaction tax which applies to most business. If you are VAT registered you are responsible for computing, recording and collecting the tax as well as paying it over to HMRC on time.
You can avoid penalties by accounting for VAT correctly. Keeping up to date with VAT returns and payments helps your business to operate more effectively and creates a smooth relationship with the tax office.
If your business supplies or receives goods or services in the EU or in countries outside the EU, you need to be aware of the relevant rules that apply and the reporting requirements.
How Bishop Fleming can help
In addition to a free, no obligation initial meeting, we offer the following services:
VAT for new businesses
VAT and Property
VAT and property is a complex area and includes:
VAT and charities
VAT in Europe – issues to consider:
VAT outside Europe
Issues to consider:
Any member of our team will be happy to offer a free, no obligation discussion on how VAT affects your business and the range of services we can offer.