Value Added Tax (VAT)
Value Added Tax (VAT) is a consumption tax levied on the value added to goods and services at each stage of production or distribution. It is collected incrementally, based on the increase in value of the product or service at each stage, from raw material procurement to the final retail sale. Businesses collect VAT on behalf of the government by charging it on sales and can reclaim the VAT they pay on purchases, ensuring that the tax is ultimately borne by the end consumer. The standard VAT rate varies by country and is typically applied to most goods and services, with some exceptions for essential items which may be taxed at reduced rates or exempted altogether.
VAT Returns
Compliance with VAT is complex. Investigations by the VAT Man can be intense – all the more important is that your VAT returns are completed correctly.
There are three methods we can use to assist in the completion of VAT returns…
- Let us do your book-keeping and we complete the return from there
- Give us your books and we’ll complete the return for you
VAT Health-check
VAT Health-check Our VAT Healthcheck service is designed to find any VAT issues before the VAT Man does! Why not call us before any visit?
The health check can.
- Review and sample check your accounting records for errors
- Sample test the most common errors that the VAT inspectors look for
VAT Registration
For VAT registration we can assist with…
- Advising if you need to or if it would be beneficial to register
- Completion of the VAT registration forms and formalities
VAT Planning and Disputes
Compliance with VAT is becoming ever more complex. Investigations from the VAT Man can be intense – all the more important is that you have an accountant who is successful in negotiations with them.
We take the best advantage of the reliefs available and the interpretation of the regulations. This is an extremely important feature of the service provided as it ensures peace of mind for all our clients.