VAT Services for Business
For most businesses VAT is, as Anthony Barber once famously said, a “simple tax”.
However, for others, who have not properly considered the VAT consequences of transactions, or who are in dispute with the VAT authorities, VAT can be a nightmare. A costly and time consuming nightmare.
Many businesses are loathe to challenge decisions made by H M Revenue & Customs and will often accept Assessments made or penalties imposed without question.
This despite the fact that according to HMRC’S own statistics, nearly 50% of all Assessments raised are either reduced or cancelled. And what of the other 50% which may go largely unchallenged?
And is your business operating in the most VAT efficient way?
Are you paying more VAT than you should or are you paying too early ?
This is where InnoVATion VAT Services Limited (“IVSL”) can help. IVSL can provide you, and your accountants, with the advice and support you need. The services IVSL provides includes:
- Advice on the appropriate use of accepted VAT Schemes or of planning structures to reduce the amount of VAT you pay or to improve cash flow.
- Advice and assistance in relation to any dispute with HMRC, or any Assessment, surcharge or penalty raised.
- Confirmation of the VAT liability of supplies, including international transactions.
- A VAT review of your structure, processes or transactions.
- Contract and sale or purchase Agreement reviews.
- Advice on business transfers or re-organisations.
- Pro-active advice on the purchase, sale, letting or transfer of property.
- Devising and implementing Partial Exemption and/or Business/Non-Business Methods for charities, not for profit organisations, and businesses involved in the VAT exempt provision of education, healthcare, financial or property related services.
- Assistance with the completion of VAT returns, EU Sales Lists and Intrastat declarations.
- Completion of DIY Housebuilders claims.
- Completion of EU VAT claims.