VAT: Value Added Tax

Accountancy Service: VAT

VAT is a self-assessed tax. This places the onus firmly on businesses to get it right. The law is constantly evolving and it is sometimes difficult to keep up to date. With high VAT rates and a punitive financial penalty regime, the cost of getting things wrong can be significant.

Stephenson Smart’s VAT accountants advise businesses across all sectors on meeting their VAT compliance obligations in an efficient manner.

HM Revenue & Customs (HMRC) demands the right amount of tax is paid at the right time. The publicly available guidance is not always clear and we are able to assist and advise you on all areas of VAT compliance.

Our comprehensive VAT advisory service includes: 

  • Review of VAT systems and accounting procedures
  • VAT registrations and grouping
  • Transfers of going concerns
  • Partial exemption and Capital Goods Scheme calculations
  • Opting to tax land and property
  • Special VAT accounting schemes (e.g. cash accounting)
  • Place of supply of goods and services
  • VAT rates and liabilities
  • Invoicing and recordkeeping requirements
  • Correct application of VAT reliefs
  • Dealing with errors, corrections and VAT reclaims

 

We can undertake and complete VAT returns, EC Sales Lists, applications for registrations, and option to tax forms on your behalf.

Alternatively, we can review your accounting procedures and systems, or provide appropriate training to key members of staff.

We can also assist with dispute resolution in an effective and timely manner. We help our clients prepare for their VAT inspections by undertaking health checks, attending meetings with HMRC and dealing with queries after the event.

VAT is a self-assessed tax. This places the onus firmly on businesses to get it right. The law is constantly evolving and it is sometimes difficult to keep up to date. With high VAT rates and a punitive financial penalty regime, the cost of getting things wrong can be significant.

Stephenson Smart’s VAT accountants advise businesses across all sectors on meeting their VAT compliance obligations in an efficient manner.

HM Revenue & Customs (HMRC) demands the right amount of tax is paid at the right time. The publicly available guidance is not always clear and we are able to assist and advise you on all areas of VAT compliance.

Our comprehensive VAT advisory service includes: 

  • Review of VAT systems and accounting procedures
  • VAT registrations and grouping
  • Transfers of going concerns
  • Partial exemption and Capital Goods Scheme calculations
  • Opting to tax land and property
  • Special VAT accounting schemes (e.g. cash accounting)
  • Place of supply of goods and services
  • VAT rates and liabilities
  • Invoicing and recordkeeping requirements
  • Correct application of VAT reliefs
  • Dealing with errors, corrections and VAT reclaims

 

We can undertake and complete VAT returns, EC Sales Lists, applications for registrations, and option to tax forms on your behalf.

Alternatively, we can review your accounting procedures and systems, or provide appropriate training to key members of staff.

We can also assist with dispute resolution in an effective and timely manner. We help our clients prepare for their VAT inspections by undertaking health checks, attending meetings with HMRC and dealing with queries after the event.

VAT: Value Added Tax

Our Offices

King's Lynn

22-26 King Street, King’s Lynn,
Norfolk, PE30 1HJ

T:   01553 774104

F:   01553 692602

E:   enquiries@stephenson-smart.com

Fakenham

10 Oak Street, Fakenham,
Norfolk, NR21 9DY

T:   01328 863318

F:   01328 855732

E:   fakenham@stephenson-smart.com

Wisbech

2 The Crescent, Wisbech,
Cambridgeshire, PE13 1EH

T:   01945 463383

F:   01945 475968

E:   wisbech@stephenson-smart.com

Great Yarmouth

East Coast House, Galahad Road, Beacon Park,
Gorleston, Great Yarmouth, Norfolk, NR31 7RU

T:   01493 382500

F:   01493 651172

E:   greatyarmouth@stephenson-smart.com

Downham Market

1st Floor, 9 Market Place,
Downham Market, Norfolk, PE38 9DG

T:   01366 384121

F:   01366 858083

E:   downhammarket@stephenson-smart.com

March

23 Dartford Road, March,
Cambridgeshire, PE15 8AN

T:   01354 653026

F:   01354 650337

E:   march@stephenson-smart.com

Contact Stephenson Smart



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