QUARTERLY VAT RETURNS
VAT is a complex area of taxation with many potential pitfalls. WMT VAT services will help you avoid costly mistakes and recover all VAT you are entitled to. With our in-depth understanding of your business or organization, we anticipate risks and identify opportunities to make the most out of your VAT position.
Value Added Tax is one of the most complex tax areas imposed on businesses – so challenging that many unintentionally overpay or underpay VAT. HMRC is constantly demanding more from businesses, with a seemingly ever-changing stream of regulatory details.
Dealing with VAT issues can divert valuable resources within your business that could be used more usefully elsewhere and can add stress on top of what you already have to manage.
Our aim is to make VAT as simple as possible for you to handle and understand. A trained, professional eye is essential to ensure that you do not fall foul of VAT regulations and more tax than you need to.
We can advise on the VAT implications of everyday business transactions, as well as irregular transactions and property deals, to ensure that your business complies with ever-changing regulations.
Our efficient and cost-effective VAT service includes:
- Assistance with VAT registration
- Advice on VAT planning and administration
- VAT control and reconciliation
- Help with completing VAT returns
- Processes put in place to avoid future issues with HMRC
- Representing you at VAT tribunals.
Businesses that produce both taxable and exempt supplies are partly exempt for VAT purposes. We advise you how to account for taxable and exempt production costs and calculate the tax that is recoverable on your exempt income, so that you recover just the right amount. We also assess if alternative methods of VAT recovery would improve your VAT position.
In addition, our VAT specialists can:
- Review and challenge assessments and surcharges issued by HMRC.
- Provide consultancy and planning advice in relation to:
- New ventures
- International trading
- Property deals
- Seeking formal Rulings
- Disputes with HMRC (negotiations, appeals, instructing Counsel)
- Overseas business
- Partial exemption methods
- Group restructuring
- Conduct VAT reviews, health checks and due diligence either on your own VAT affairs or those of targets you are acquiring