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Chartered Accountants since 1919
A misunderstanding of the VAT rules could result in a 20% overspent budget, perhaps due to an oversight of irrecoverable VAT or failure to identify the correct VAT liability on services you agreed to provide on VAT inclusive terms (that is, any VAT due must be accounted for within the income received). What’s more, there may be penalties and interest due from applying the incorrect VAT treatment.
If you’ve got an issue with VAT, whether domestic or international, you’ll need to have it sorted by an experienced specialist with a strong track record of success.  Moreover, we’re the people who really ‘get it’ because we’ve been in business; we have ‘real world’ experience and half of our team are ex-HMRC. So, we know what to look for, how to fix it and then make it even better.
Our dedicated VAT specialist team, led by two partners, can provide you with the right level of support you need for both domestic and cross border transactions.
PKF Francis Clark is a member of the PKF international network, the 15th largest accounting network globally, providing access to taxation experts in over 150 countries.
We can help you understand how the VAT rules should apply to your business transactions. We have the resources to provide you with a wide range of advisory services to meet your requirements, including:
Ineffective VAT accounting processes and procedures could result in the submission of inaccurate VAT returns with unexpected financial exposures. As a finance director, it is important to determine the effectiveness of your VAT accounting arrangements, even more so if you are within the Senior Accounting Officer (SAO) regime. We can help you evaluate identify any weaknesses in your VAT accounting systems using our methodology for undertaking SAO reviews.
The 2017 corporate criminal offence (CCO) requires companies and partnerships to have measures to prevent employees and agents from facilitating tax evasion. Without these, they risk unlimited fines. We offer CCO reviews and workshops to ensure compliance, involving our corporation and employment tax experts.
Your business model could be VAT inefficient with unnecessary irrecoverable VAT being incurred on purchases or expenditure. Talk to us. We will spend time with you getting to know you, your objectives and business operations to ensure that any changes we recommend to your business model to improve VAT efficiency is pragmatic and remains aligned to your business objectives.
This is a complex area of VAT law, with substantial VAT potentially at stake if the correct VAT structure is not implemented. We can help you by considering the most VAT efficient structure to implement if you are buying a business. We can also review the structure post implementation to ensure that the correct treatment is applied to VAT incurred on professional fees.
How can our VAT advisory specialists support you with your business transactions?
