The complexity of VAT rules and regular changes in the legislation and guidance make this a specialist area. Value Added Tax is the UK’s sales tax and, at its simplest, involves a regular return to HM Revenue and Customs which details the amount of tax payable, or recoverable.
Understand how the UK sales tax impacts your business
We can help you to prepare your VAT returns, whether they need to be submitted monthly, quarterly or annually, ensuring that amounts reported are accurate and deadlines are met.
New clients often ask us to do a VAT review for their business to ensure they are complying with the rules and taking advantage of VAT planning opportunities. Although this is tailored to each client, we might consider:
- The treatment of sales made by the business, different VAT rates applicable to different supplies
- Any VAT schemes that can be used to simplify administration
- For businesses that receive VAT repayments, how these can support cash flow
- Correct recovery of VAT in complex areas such as company cars, fuel, phones, entertainment and some capital purchases
- The recovery of VAT on pre-trading expenditure
- VAT groups, and transactions between group entities
- The consequences of international trade
VAT can be a particularly complicated area for property developers. Our experience over decades with clients in this sector means that we can provide support with compliance (we prepare and submit hundreds of returns for clients each year) and advice.
It is vital to consider the VAT consequences of buying or selling businesses or valuable assets. A review of the VAT position should be included when contemplating any large transaction. There are often steps that can be taken to reduce the VAT cost.
When HMRC open a VAT enquiry we support our clients by liaising with the tax inspector, providing information, analysis and explanations to help efficiently close the investigation. Such enquiries often arise when businesses request a repayment of VAT, so our efficiency also supports cash flow.
Why work with us?
All Lewis Golden clients benefit from our exceptional standard of client care, our depth of experience, and our distinctive approach.
Person to person meeting
We’ll get to know you and your business with an in-depth initial consultation.
We understand your goals
Our team is dedicated to helping you realise your ambitions, and ready to support you at every stage.
A plan for success
We’ll create a structured plan to reach your goals, continuously reviewing your performance and progress towards them.
“We take pride in simplifying VAT for our clients, in what is a notoriously complicated area.”
Senior VAT Manager at Lewis Golden
Precision with personality
Let us take your worries away
Our people are what really make us stand out. The Lewis Golden team is made up of brilliant individuals with a wealth of experience and a sharp focus on the work they do.