VAT & other indirect taxes
VAT started out life as the "simple tax" but has since turned into one of the most complex and confusing of all British taxes.
At Johnston Carmichael we have established a team of VAT specialists with a proven track record of delivering creative solutions to VAT issues while identifying areas of risk early on and providing planning that can help you meet your compliance at the minimum of cost.
Our services cover and continually build on planning, advice and training in the following areas:
- Acquisition, sale and development of land, buildings and businesses
- Maintaining VAT neutral status, partial exemption position and VAT status of land property disposals
- When to exercise an Election to Waive Exemption and the impact of the Capital Goods Scheme
- Development of sporting facilities including the use of special purpose vehicles to recover VAT on construction costs
- Treatment of annual payments, the impact on funders and the implications in relation to the funding of the development by loan or share capital
- Joint ventures
- Charitable organisations, advising on "eligible status" and the applying or disapplying of VAT exemptions
- Risks associated with cultural centres and entities
- Bespoke VAT advice to both the public and private sectors
- Personalised VAT training for finance staff in both the public and private sectors
- EU and international VAT transactions
- Administration of VAT returns in relation to the recording and processing of information in order to eliminate issues going forward in relation to future HMRC compliance visits
- Preparation of VAT information and how this can be fully integrated into your existing accounting systems to provide meaningful management information
- Annual VAT health checks to safeguard you against the imposition of interest and penalty charges during an in depth enquiry/compliance visit by HMRC.
- Detailed planning and compliance advice in relation to Customs and Excise Duties, Insurance Premium Tax, Aviation Duty and Environmental Taxes such as Landfill Tax, Climate Change Levy and Aggregate's Levy.
Click here to try our VAT Calculator.
For further information on our VAT services and how our team can help you, please contact a member of our VAT team.
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