VAT and Customs Duty Services
VAT is a notoriously complicated tax; more frequent inspections and a harsher penalty regime introduced recently mean the risks it brings have never been higher. We understand that as VAT is a transaction based tax, our clients usually demand a quick answer.
Our VAT specialists make it their business to know enough about yours so that they can anticipate opportunities and problems, and act quickly to deliver a solution, leaving you to get on with your business.
- We can consider any VAT issues that might arise from your prospective business plans to make sure that VAT does not compromise these arrangements.
- We can use our technical knowledge and experience to provide advice on specific high-value transactions including the acquisition or sale of a business or a property.
- We can provide a comprehensive VAT review to enable your business to take a pro-active approach to its VAT affairs.
- We can advise how to legitimately maximise VAT recovery on costs without the use of high risk, artificial schemes.
- James Cowper Kreston is part of the Kreston International network which puts us in an ideal position to advise your business on the VAT implications of cross border transactions.
- Our VAT team has strong project management skills, which allow us to provide co-ordinated advice across all UK corporate taxes, to help you identify the key issues and risks.
Particular issues/strategic decisions
- Cash accounting or accrual/invoice accounting
- VAT grouping or stand-alone registrations
- Voluntary VAT registration where taxable turnover is below the threshold
- Flat rate scheme or standard VAT accounting
- Separate trading subsidiary for charities/not-for-profit business
- Advantages and disadvantages of opting to tax land or property.
Prepare and submit to HMRC
- VAT registration or deregistration application
- VAT return
- Amendment to existing group registration
- MOSS registration and return
- EU Sales List
- Intrastat supplementary declaration
- Error correction
- Complaint about HMRC conduct
- Non-statutory clearance request
- Partial exemption special method
- Business/non-business apportionment
- Election to waive exemption
- Alternative Dispute Resolution (ADR) application
Audits and investigations by HMRC
- Where a difficult VAT matter arises we can negotiate with HMRC on your behalf.
- Our team is available to help you on the day of a VAT inspection to assist with any questions raised by HMRC.
- We can perform a risk assessment of the VAT position prior to an HMRC visit and advise on how to deal with any problems this highlights.
- If HMRC issues an assessment, liabilities can often be avoided or mitigated by involving a VAT specialist at an early stage.
Customs duty and International Trade services
We are able to use our experience to advise on
- import and export procedures
- duty deferment
- EORI applications
- Temporary import reliefs
- Low value bulked imports (LVBI)
- the potential impact of Brexit upon your international sales and purchases.
- HMRC import valuation inspections.
- Classification of goods, by reference to our third party/external specialists